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4/12/2017, 9:21 PM (Source: TeleTrader)
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Trump: Dollar too strong; China not FX manipulator

United States President Donald Trump said in an interview to the Wall Street Journal the dollar is "getting too strong" and that it will ultimately have a negative impact on the economy as it put the country in a difficult situation in terms of international competition, particularly because some countries devaluate their currencies.

“I think our dollar is getting too strong, and partially that’s my fault because people have confidence in me,” the WSJ quoted Trump as saying.

The American president said China would not be named a foreign-exchange manipulator in a report due to be published later in the week, because making the move at this point could compromise the talks with the world’s second largest economy on ways to solve the North Korea issue.

As for the reappointment of Janet Yellen, he said he would like interest rates to stay low, but did not dismiss the possibility of giving her another four years at the helm of the Federal Reserve.

 

Breaking the News / KV