Washington – U.S. President Donald Trump praised the strength of the U.S. dollar on Thursday after the greenback reached a 14-month high against a broad basket of other currencies a day earlier.
Subscribe to our Daily Roundup Email
“Money is pouring into our cherished DOLLAR like rarely before,” Trump wrote on Twitter, citing the strength of the U.S. economy.
The U.S. economy grew at a 4.1 percent annualized rate in the April-June period, nearly double the 2.2 percent rate in the first quarter. Growth in the July-September period is forecast to top 3 percent.
Contributing to the strength of the dollar has been the collapse of the Turkish lira, which has led in recent days to flows into the dollar, considered by investors to be a safe haven.
In an interview on Thursday, White House economic adviser Larry Kudlow said the strong dollar indicated global confidence in the U.S. economy.
“It’s sending a positive story of global confidence in the USA. That’s all. Trillions of dollars are coming in here because we’re in an economic boom that virtually nobody thought possible,” Kudlow said in an interview with CNBC.
Did he say in his campaign that he wants a weak dollar? cause it helps exports?
If he doesn’t believe in a strong dollar, why is he hailing it?
The Market is loving it. Thanks Pres
Whatever. The riyal is the dollar. Has been as long as I have been here.