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CNN Money Thursday April 13, 2017
U.S. dollar drops sharply after Trump calls it 'too strong'
The dollar dropped 0.7%, a major move, after Trump told the Wall Street Journal that the dollar is "getting too strong." "I think our dollar is getting too strong, and partially that's my fault because people have confidence in me," Trump said. "But that's hurting -- that will hurt ultimately." The dollar hit its highest level in 13 years shortly after Trump won the election. It was widely viewed as a sign that investors believe America will grow faster than other parts of the world. But now the dollar might be getting too mighty. The president is worried that US businesses, especially manufacturers, won't be able to compete. American goods are more expensive relative to European or Japanese products when the dollar's value is too high. "It's very, very hard to compete when you...Read more and see CNN video