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Trump’s tweet citing the ‘highest dollar in US history’ is flat-out wrong. Here’s where the dollar actually stands.
Trump has repeatedly expressed his desire for a weaker US dollar, saying it will improve the US's position in the global trade war.
The dollar just hit its highest level of 2019, even as Trump continues his full-court press for a weaker currency
There are a number of factors supporting the dollar's strength, including the trade war, which is dragging down global growth.
Trump ramps up his crusade for a weaker dollar, says the Fed’s rate decisions have ‘called it wrong at every step’
"As your President, one would think that I would be thrilled with our very strong dollar. I am not!" Trump tweeted Thursday.
The global trade war has morphed into a currency war. Here’s why that’s a scary proposition for markets.
"A trade war that was supposed to be easy to win seems like it's going to be hanging around for a long time," said Dan Ikenson of the Cato Institute.
China takes measures to keep the yuan from plummeting further, stabilizing markets after 2019’s worst rout
The move by the People's Bank of China to fix the yuan higher than analysts expected pushed its exchange rate back above a key psychological level.
US declaration of China as currency manipulator roils global financial markets from the Americas to Asia
The US Treasury had previously held off labelling Beijing a currency manipulator, but made the announcement after US stocks plummeted, the yuan weakened and Beijing announced that it would suspend purchases of US agricultural goods
The jump came after China let its currency slide to its lowest value against the US dollar in over a decade.
The dollar climbed to its highest level in more than 2 years after the Fed cut rates. That’s the opposite of what Trump wants.
The market reaction to the rate cut was "totally the opposite" of what usually happens, said Hussein Sayed, chief market strategist at FXTM.
Trump’s right on the money: IMF finds the US dollar is overvalued, the Euro is undervalued for Germany
"Whilst Trump has never been the biggest fan of the IMF, he may very well be now!"
Markets have the "go-ahead to push further into risk-on territory for the time being," said Han Tan, a market analyst at FXTM.