Investing.com - The dollar reversed its losses against a basket of major currencies after President Donald Trump signalled his support for a stronger dollar and said recent remarks made by Treasury Secretary Steven Mnuchin "were taken out of context."
The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, traded flat at 88.94 after recovering from session lows of 88.27.
"The dollar is going to get stronger and stronger and ultimately I want to see a strong dollar," Trump told CNBC. "Our country is becoming so economically strong again and strong in other ways, too."
Trump's comments come just a day after Mnuchin said “Obviously a weaker dollar is good for us as it relates to trade and opportunities." President Trump, however, said that Treasury Secretary Mnuchin's "were taken out of context."
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