Trump: Not Worried About Dollar Depreciation, Can Let It Fluctuate Like a Yo-Yo

Odaily News US President Donald Trump stated that he believes the US dollar has not depreciated significantly, describing it as "performing well," and expects currency values to fluctuate. When asked by a reporter if he was concerned about the dollar's depreciation, Trump replied, "No, I think the dollar is doing great. I want it to return to its proper level, which is a reasonable approach." Trump also hinted that he could manipulate the dollar's exchange rate, saying, "I can make it go up and down like a yo-yo." However, he described such a scenario as an unfavorable outcome, comparing it to hiring unnecessary workers to embellish employment data, while also criticizing Japan for attempting to devalue its own currency.

The US Dollar Index (DXY) initially saw a slight uptick following Trump's comments, but then plummeted sharply by over 50 points, hitting a new low since February 2022. Non-US currencies surged on the momentum, with the offshore Chinese yuan (CNH) against the US dollar approaching and nearly breaking through the 6.93 level. Gold continued to set new highs, surpassing $5,180 per ounce. (Jin10)