Latest news with #dollar
Fast Company
35 minutes ago
- Business
- Fast Company
Trump says he likes a strong dollar, but a weaker one is ‘good for inflation'
BY Listen to this Article More info 0:00 / 1:31 U.S. President Donald Trump said on Friday he liked a strong dollar but 'you make a hell of a lot more money' with a weaker one. 'So when we have a strong dollar, one thing happens: It sounds good. But you don't do any tourism. You can't sell tractors, you can't sell trucks, you can't sell anything,' Trump said at the White House before leaving on a trip to Scotland. 'It is good for inflation, that's about it.' The dollar index, which measures the greenback's strength against six major currencies, steadied on Friday after hitting two-week lows earlier in the week. It is still down roughly 10% over the six months Trump has been in office. Trump has often complained that dollar strength blunts U.S. export competitiveness and hurts U.S. manufacturing and jobs. Trump told reporters on Friday that manufacturers would be the first to benefit from a falling dollar, citing construction and mining equipment maker Caterpillar, whose shares have risen 16% over the last month. Japan and China fought for weaker currencies for decades and were able to dominate markets over the years, Trump said. 'Now it doesn't sound good, but you make a hell of a lot more money with a weaker dollar – not a weak dollar but a weaker dollar – than you do with a strong dollar,' he said. At the same time, he acknowledged that pushing for a weaker dollar wasn't a good look, saying a strong dollar is good psychologically. 'It makes you feel good,' he said. 'I love strong dollars.' —Steve Holland and Maiya Keidan, Reuters
Yahoo
2 hours ago
- Business
- Yahoo
Trump: strong dollar sounds good but 'you make a hell of a lot more' with a weaker one
By Maiya Keidan WASHINGTON (Reuters) -U.S. President Donald Trump said on Friday he liked a strong dollar but "you make a hell of a lot more money" with a weaker one. "So when we have a strong dollar, one thing happens: It sounds good. But you don't do any tourism. You can't sell tractors, you can't sell trucks, you can't sell anything," Trump said at the White House before leaving on a trip to Scotland. "It is good for inflation, that's about it." The dollar index, which measures the greenback's strength against six major currencies, steadied on Friday after hitting two-week lows earlier in the week. It is still down roughly 10% over the six months Trump has been in office. Trump has often complained that dollar strength blunts U.S. export competitiveness and hurts U.S. manufacturing and jobs. Trump told reporters on Friday that manufacturers would be the first to benefit from a falling dollar, citing construction and mining equipment maker Caterpillar, whose shares have risen 16% over the last month. Japan and China fought for weaker currencies for decades and were able to dominate markets over the years, Trump said. "Now it doesn't sound good, but you make a hell of a lot more money with a weaker dollar - not a weak dollar but a weaker dollar - than you do with a strong dollar," he said. At the same time he acknowledged that pushing for a weaker dollar wasn't a good look, saying a strong dollar is good psychologically. "It makes you feel good," he said. "I love strong dollars." Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Bloomberg
2 hours ago
- Business
- Bloomberg
Dollar Set to Break Winning Streak as Trump Calls for Rate Cuts
The dollar is wrapping its worst week in July as President Donald Trump amps up his calls for interest-rate cuts amid a looming deadline for trade deals. The greenback has weakened about 0.5% since Monday against a basket of currencies, putting it on track to break a two-week rally. That adds to a bruising year in which it has lost 8.5% on everything from Trump's trade war to his repeated attacks on Fed Chair Jerome Powell.
Reuters
2 hours ago
- Business
- Reuters
Trump: strong dollar sounds good but 'you make a hell of a lot more' with a weaker one
WASHINGTON, July 25 (Reuters) - U.S. President Donald Trump said on Friday he liked a strong dollar but "you make a hell of a lot more money" with a weaker one. "So when we have a strong dollar, one thing happens: It sounds good. But you don't do any tourism. You can't sell tractors, you can't sell trucks, you can't sell anything," Trump said at the White House before leaving on a trip to Scotland. "It is good for inflation, that's about it." The dollar index (.DXY), opens new tab, which measures the greenback's strength against six major currencies, steadied on Friday after hitting two-week lows earlier in the week. It is still down roughly 10% over the six months Trump has been in office. Trump has often complained that dollar strength blunts U.S. export competitiveness and hurts U.S. manufacturing and jobs. Trump told reporters on Friday that manufacturers would be the first to benefit from a falling dollar, citing construction and mining equipment maker Caterpillar (CAT.N), opens new tab, whose shares have risen 16% over the last month. Japan and China fought for weaker currencies for decades and were able to dominate markets over the years, Trump said. "Now it doesn't sound good, but you make a hell of a lot more money with a weaker dollar - not a weak dollar but a weaker dollar - than you do with a strong dollar," he said. At the same time he acknowledged that pushing for a weaker dollar wasn't a good look, saying a strong dollar is good psychologically. "It makes you feel good," he said. "I love strong dollars."
Yahoo
2 hours ago
- Business
- Yahoo
Trump: strong dollar sounds good but 'you make a hell of a lot more' with a weaker one
By Maiya Keidan WASHINGTON (Reuters) -U.S. President Donald Trump said on Friday he liked a strong dollar but "you make a hell of a lot more money" with a weaker one. "So when we have a strong dollar, one thing happens: It sounds good. But you don't do any tourism. You can't sell tractors, you can't sell trucks, you can't sell anything," Trump said at the White House before leaving on a trip to Scotland. "It is good for inflation, that's about it." The dollar index, which measures the greenback's strength against six major currencies, steadied on Friday after hitting two-week lows earlier in the week. It is still down roughly 10% over the six months Trump has been in office. Trump has often complained that dollar strength blunts U.S. export competitiveness and hurts U.S. manufacturing and jobs. Trump told reporters on Friday that manufacturers would be the first to benefit from a falling dollar, citing construction and mining equipment maker Caterpillar, whose shares have risen 16% over the last month. Japan and China fought for weaker currencies for decades and were able to dominate markets over the years, Trump said. "Now it doesn't sound good, but you make a hell of a lot more money with a weaker dollar - not a weak dollar but a weaker dollar - than you do with a strong dollar," he said. At the same time he acknowledged that pushing for a weaker dollar wasn't a good look, saying a strong dollar is good psychologically. "It makes you feel good," he said. "I love strong dollars."
