Currencies: Dollar sees biggest one-day drop in 3 weeks after Trump comments

The U.S. dollar got pummeled on Friday after President Donald Trump accused China and the European Union of currency and interest-rate manipulation that he says has put the U.S. at a disadvantage.

The ICE U.S. Dollar Index DXY, -0.72% traded 0.7% lower to 94.478 after the tweets, marking its worst performance in three weeks.

China, the European Union and others have been manipulating their currencies and interest rates lower, while the U.S. is raising rates while the dollars gets stronger and stronger with each passing day – taking away our big competitive edge. As usual, not a level playing field.

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