Greenback edges down as Trump tells currency is 'getting too strong'

Greenback edges down as Trump tells currency is 'getting too strong'

On Thursday, the evergreen buck dipped broadly, getting to a five-month minimum against the Japanese yen, after Donald Trump helped to accelerate its recent drop by telling the currency was too strong.

The US dollar took a heavy hit after Trump said that the major American currency is getting extremely strong and he would prefer the Fed to keep interest rates low.

The comments turned to be a fresh reminder of Trump’s protectionist trade rhetoric that has been a source of concern for greenback bulls.

The US dollar sank 0.3%, hitting 108.805 yen, having dipped to a five-month minimum of 108.730. Then, in an evident bearish technical signal, the currency pair managed to break below its 200-day moving average of 108.75.

The major American currency has edged down 2% vs. the yen this week. By the way, the Japanese yen is already on a bullish footing due to a surge in geopolitical tensions.


Latest news

Japan real wages surge is slowest in almost two years

Japan's March real wages went down at the fastest pace in nearly two years, weighed by minor nominal pay lifts as well as a moderate ascend in consumer prices, thus posing a setback for Prime Minister Shinzo Abe's tries to revitalize the Japanese…

Deposit with your local payment systems


A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Internal error. Please try again later

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera