The US dollar suffered its worst single-day decline in nearly a year on Tuesday, plunging to a four-year low after President Donald Trump publicly welcomed the American currency’s weakness.
The Bloomberg Dollar Spot Index, a key gauge of the greenback’s strength against other major currencies, recorded its steepest drop since last April, tumbling to its lowest level since February 2022. The sell-off accelerated immediately after Trump, speaking to reporters in Iowa on Tuesday, was asked if the dollar had fallen too much.
“No, I think it’s great,” he responded. “I think the value of the dollar – look at the business we’re doing. The dollar’s…
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