Trump tanks the dollar after saying it's 'getting too strong'

Trump: Dollar is getting too-strong -WSJ

The U.S. dollar dropped suddenly on Wednesday after President Trump said the currency was "getting too strong" in an interview with The Wall Street Journal. The dollar hit a low of 109.08 against the Japanese yen, its lowest level since November.

The U.S. dollar index, a basket of the greenback versus major currencies, dropped 0.5 percent in less than 15 minutes at around 3:10 pm ET following Trump's comments, which were unusual for a leader about their country's currency. The index remained lower by about 0.5 percent in late-afternoon trading.

The euro touched a high of 1.0658 against the dollar, its highest since April 7.

U.S. Dollar index, 1-day

"I think our dollar is getting too strong, and partially that's my fault because people have confidence in me. But that's hurting—that will hurt ultimately," Trump said in the interview with the WSJ.

The dollar index is still up a little more than 2 percent since Trump was elected.