Investing.com – The dollar reversed its losses against a basket of major currencies after President Donald Trump signalled his support for a stronger dollar and said recent remarks made by Treasury Secretary Steven Mnuchin “were taken out of context.”
The , which measures the greenback’s strength against a trade-weighted basket of six major currencies, traded flat at 88.94 after recovering from session lows of 88.27.
“The dollar is going to get stronger and stronger and ultimately I want to see a strong dollar,” Trump told CNBC. “Our country is becoming so economically strong again and strong in other ways, too.”
Trump’s comments come just a day after Mnuchin said “Obviously a weaker dollar is good for us as it relates to trade and opportunities.” President Trump, however, said that Treasury Secretary Mnuchin’s “were taken out of context.”
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Latest posts by investing.com (see all)
- Forex – Dollar Edges Back as Hopes for Trade Deal Rise - February 18, 2019
- Forex – Yuan Gains, U.S. Dollar Slips on Trade Deal Prospects - February 18, 2019
- Dollar eases as trade deal prospects bolster risk, sterling gains - February 18, 2019