TRUMP: The dollar is 'getting too strong' partly because people have confidence in me

pulse

April 12, 2017 8:54 PM

Trump also told The Wall Street Journal he would not label China a currency manipulator.

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President Donald Trump said the dollar "is getting too strong," repeating his opinion that the currencys gain makes American products less competitive globally.

In 2015, the strong dollar dealt a blow to US manufacturers when it surged as investors expected interest rates to rise. Although it's bad for exporters, a stronger dollar cheapens foreign products for Americans.

Trump also told the WSJ that the US won't label China a currency manipulator. During his campaign, Trump had promised he would do so on day one of his presidency. He said he made the reversal because China stopped devaluing its currency, and the label would hurt efforts to work with Beijing on dealing with North Korea.

The US dollar index, which measures it against a basket of other major currencies, slid on Trump's remarks about its strength. It is down 0.35% at 100.28 as at 3:20 p.m. ET.

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