US Pres. Trump: Having a strong dollar is a great thing

When asked about FOMC Chairman Jerome Powell's comments on the policy outlook, US President Donald Trump said that having a strong dollar was a "great thing."

Trump further added that a stronger dollar would help the economy during the recovery post coronavirus crisis.

Market reaction

The US Dollar Index surged higher on these comments and was last seen up 0.2% on the day at 100.40. Reflecting the broad USD strength, the EUR/USD extended its daily slide and was down 0.2% on the day at 1.0795.