How Donald Trump just sent the US Dollar diving

January 18, 2017 00:21

The US dollar dipped after Donald trump raising a red flag over the currency's rise.

The dollar first rose after Trump's election win thanks in part to an idea the president-elect would increase infrastructure spending. But on Tuesday, the US Dollar Index slid 1.2% to 100.35 and hit a low it hasn't since early December.

The index measures the greenback relative to a basket of six other major world currencies. The dip comes after Trump told the Wall Street Journal on Monday that the US dollar was "too strong."

Trump, revisiting a well-worn argument, said that the strong dollar came in part due to China holding its currency, the yuan, down.

"Our companies can't compete with them now because our currency is too strong. And it's killing us," he told the Journal.

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