The value of the U.S. dollar plunged Tuesday, after President Donald Trump said he was not concerned about the currency’s recent drop.<\/p>\n
“I think it\u2019s great,” Trump said, speaking to reporters in Iowa, when asked if the dollar’s value had declined too much. \u201cThe dollar\u2019s doing great.\u201d <\/p>\n
Before Trump’s comments, <\/strong>the benchmark ICE U.S. Dollar Index <\/strong>was already on pace to record its worst three-day drop since Trump’s April 2025 “Liberation Day” tariff rollout<\/a>.<\/p>\n After Trump\u2019s comments, the value of the dollar as measured by the index sharply extended its slide to as much as 1.5%, putting it on track for its worst one-day drop since April.<\/p>\n As of 4:30 p.m. ET, the U.S. dollar sat at its weakest level since early 2022. <\/p>\n The ICE U.S. Dollar Index measures the strength of the dollar compared with a basket of foreign currencies, such as the euro, British pound, Japanese yen, Canadian dollar and Swiss franc. The index rises when the dollar’s value increases and declines when its value drops against those currencies.<\/p>\n The value of the U.S. dollar directly affects consumers. <\/p>\n