Trump's Irrational Dollar

US President Donald Trump had a problem – from his own point of view: he was too good and that made the dollar too strong. That is at least how he presented it in an interview on 12th April: “I must be honest with you, I think our dollar is getting too strong, and partially that's my fault because people have confidence in me.” Well, Trump has solved at least this specific problem. The (ICE's) dollar index (DXY) has retraced any gains that were recorded since the US Presidential elections and is trading at the levels seen at the end of October 2016. The last bit of the “Trump dollar” has disappeared.