Trump's comments send dollar reeling

Section:

By Chelsey Dulaney
The Wall Street Journal
Tuesday, January 17, 2017

The dollar slid to a one-month low today after President-elect Donald Trump described the currency as "too strong" in an interview with The Wall Street Journal, casting new uncertainty onto the dollar’s postelection rally.

The WSJ Dollar Index, which measures the U.S. currency against 16 others, fell 1.1 percent to 91.19, its lowest point since the U.S. Federal Reserve raised interest rates on Dec. 14. The dollar was down nearly 1% against the Japanese yen and the Mexican peso.

In the interview with the Journal, Mr. Trump said the U.S. dollar was already "too strong," in part because China holds down its currency, the yuan. "Our companies can't compete with them now because our currency is too strong. And it's killing us," he said.

Mr. Trump had alluded to the dollar throughout the presidential campaign, threatening to label China a currency manipulator for weakening the yuan. But Mr. Trump's comments were the clearest indication yet that the new administration would prefer a weaker dollar. A stronger dollar can hurt U.S. companies by making their products more expensive overseas. ...

... For the remainder of the report:

http://www.wsj.com/articles/trump-comments-send-dollar-reeling-148466671...



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