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Dollar Recovers Losses as Trump Says Dollar 'Will Get Stronger'

Published 01/25/2018, 02:05 PM
Updated 01/25/2018, 02:05 PM

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."

Latest comments

America first = $
recovers losses?? what an early conclusion..
All of this fickleness in the currency market makes me think of a bunch of lemmings plunging off a cliff.  One comment by any one person does not set policy.
blew two of my accounts, thanks trump
How much lower did you believe the DXY would go?
Err.... yea right. What a liar !!!
Check the charts
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