21/08/18

Dollar Tumbles On Trump's Fed Attack, Sending Global Stocks Higher



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Dollar Tumbles On Trump's Fed Attack, Sending Global Stocks Higher
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The dollar slumped for the fourth consecutive day on Tuesday and Treasuries edged lower after President Trump criticized higher interest rates and the Fed's rate hike policy and slammed China and EU for currency manipulation. The DXY index dropped 0.35%, down 1.2% in the last four days - its worst such run since late March - while the Bloomberg dollar index dropped to the lowest since August 9.

According to Bloomberg, Trump complained that Jerome Powell hadn't been a "cheap-money Federal Reserve chairman" at a fund-raiser on Friday, and also ....

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