Courtesy of Mish.
Last Wednesday, president Trump commented, “I think our dollar is getting too strong, and partially that’s my fault because people have confidence in me.”
Numerous mainstream media reports were was all over Trump’s statement, attributing major moves in the US dollar to Trump’s statement.
Now that the dust has settled, let’s recap some headlines and look at what really happened on Wednesday, April 12.
April 12 Headlines
- CNBC: Trump tanks the dollar after saying it’s ‘getting too strong’
- CNN Money: U.S. Dollar Drops Sharply After Trump Calls it ‘Too Strong’
- USA Today: Trump says ‘Dollar Too Strong,’ Pushes Buck Lower
US Dollar Index
The US dollar fell from 100.71 to 100.46. That’s a 0.25% move. Allegedly that constitutes “tank” and “sharply lower”.
April 16 US Dollar Index Update
Watching the futures, the index is now at 100.30 as of 8:11 PM central.