Dollar fell after Trump's criticism of the Fed raises the interest rate
Today, the US dollar fell against a basket of other major currencies after President Donald Trump said he did not agree with the decision to increase the interest rate of the Federal Reserve.
Prior to information trade negotiations projected between Chinese and U.S. officials in Washington in the coming days, investors hoped to lessen tensions between the two largest economies in the world , which also caused the dollar to decline.
The US dollar index, measuring the strength of the dollar versus the six major currencies, decreased 0.2% to 95.5 at 03:53 AM ET (07:53 GMT) after hitting the low-night rate of 95.31, the lowest level since Aug. 9.
The dollar weakened after Trump said in an interview with Reuters on Monday that he was "unhappy" with Fed president Jerome Powell about raising interest rates and adding that the Fed should support more to help him promote the economy.
Trump has nominated Powell the successor of the former Fed President Janet Yellen this year.
The president said he would criticize the Fed if the Agency continued to raise interest. The Fed has increased interest rates and is expected to continue, with two more times expected to increase this year.
Trump also accused China and Europe of manipulating their currency and said he did not expect much progression from trade negotiations this week with Chinese officials.
The above commentary was pre-compiled on Wednesday on the Fed's 8-month meeting, along with the investors looking for changes to the Fed's prospects about inflation, economic and disturbing trade warfare.
On Friday, Jerome Powell will appear for the first time as the FED chairman at the Annual Economic seminar in Jackson Hole.
The USD/JPY rate is at 110.08, after hitting a low for two months 109.78 overnight.
The euro rises higher, the last EUR/USD at the rate of 1.1513 after the increase to 1.1541 overnight.
The common European currency has dropped to the lowest level in 13 months compared to the dollar last week in the context of concerns about the spread of impacts on European banks from the monetary crisis of Turkey.
The Turkish Lira held steady around 6 Lira a dollar, the Turkish financial market closed on the holiday period this week.
Meanwhile, the pound rose, the exchange rate GBP/USD rose 0.26% to 1.2828.
Prior to information trade negotiations projected between Chinese and U.S. officials in Washington in the coming days, investors hoped to lessen tensions between the two largest economies in the world , which also caused the dollar to decline.
The US dollar index, measuring the strength of the dollar versus the six major currencies, decreased 0.2% to 95.5 at 03:53 AM ET (07:53 GMT) after hitting the low-night rate of 95.31, the lowest level since Aug. 9.
The dollar weakened after Trump said in an interview with Reuters on Monday that he was "unhappy" with Fed president Jerome Powell about raising interest rates and adding that the Fed should support more to help him promote the economy.
Trump has nominated Powell the successor of the former Fed President Janet Yellen this year.
The president said he would criticize the Fed if the Agency continued to raise interest. The Fed has increased interest rates and is expected to continue, with two more times expected to increase this year.
Trump also accused China and Europe of manipulating their currency and said he did not expect much progression from trade negotiations this week with Chinese officials.
The above commentary was pre-compiled on Wednesday on the Fed's 8-month meeting, along with the investors looking for changes to the Fed's prospects about inflation, economic and disturbing trade warfare.
On Friday, Jerome Powell will appear for the first time as the FED chairman at the Annual Economic seminar in Jackson Hole.
The USD/JPY rate is at 110.08, after hitting a low for two months 109.78 overnight.
The euro rises higher, the last EUR/USD at the rate of 1.1513 after the increase to 1.1541 overnight.
The common European currency has dropped to the lowest level in 13 months compared to the dollar last week in the context of concerns about the spread of impacts on European banks from the monetary crisis of Turkey.
The Turkish Lira held steady around 6 Lira a dollar, the Turkish financial market closed on the holiday period this week.
Meanwhile, the pound rose, the exchange rate GBP/USD rose 0.26% to 1.2828.
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