# US Dollar Hits Four-Year Low as Trump Calls It “Doing Great”

> The US dollar has fallen to a four-year low after President Donald Trump dismissed concerns over its decline, prompting investors to seek safe havens like gold and the Swiss franc. The greenback has dropped 10% over the…

Published: 2026-01-28 · Desk: Latest · Source: The Guardian

The US dollar has dropped to its lowest level in four years after President Donald Trump dismissed concerns over the currency’s decline, prompting investors to move toward traditional safe havens like gold and the Swiss franc.

The dollar fell 1.3% against a basket of currencies following Trump’s comments on Tuesday, marking its fourth consecutive day of losses, and slipped another 0.2% on Wednesday morning.

“No, I think it’s great,” Trump said about the weaker dollar during a visit to Iowa to highlight his economic record. Asked if he was concerned about the decline, he added, “I think the value of the dollar – look at the business we’re doing. The dollar’s doing great.”

Over the past year, the greenback has tumbled 10%, with Tuesday’s drop being the largest single-day decline since last April, when Trump announced sweeping tariffs, triggering a global market sell-off. The dollar has now fallen to its lowest level since February 2022 amid unpredictable US policies, including Trump’s Greenland remarks and threats of tariffs on European allies, which have caused new geopolitical shocks.

“A weaker dollar is a two-sided coin,” said Steve Sosnick, market strategist at Interactive Brokers. He noted that while multinational companies benefit from currency conversion advantages, imports become more expensive, potentially driving inflation.

The dollar’s decline has pushed rival currencies to multi-year highs. The Swiss franc has risen to its strongest level against the dollar in over a decade, climbing 3% this year following a 14% gain in 2025. The euro has surged to $1.20, its biggest weekly gain since last April, after rising 13% in 2025, the best year since 2017.

Gold prices have also reached record levels, surpassing $5,200 (£3,770) an ounce, continuing a rally that began after hitting $5,000 on Monday. Since Trump’s second inauguration just over a year ago, gold has jumped nearly 90%, reflecting investors’ flight to safety amid political uncertainty.

Analysts warn the dollar could weaken further due to presidential pressure on the Federal Reserve, US economic conditions, and rising debt. The Fed is set to announce its first interest rate decision of the year on Wednesday, expected to keep rates unchanged despite Trump’s calls for cuts.

After unprecedented attacks on Fed Chair Jerome Powell—whom Trump has publicly insulted and threatened to fire—the Justice Department has launched a criminal investigation into Powell regarding renovations at the central bank’s headquarters. Powell’s term ends in May, and Trump could appoint a successor shortly after the interest rate announcement.

Original reporting: https://www.theguardian.com/business/2026/jan/28/us-dollar-sinks-lowest-level-four-years
HTML: https://tezzfeed.com/latest-news/us-dollar-hits-four-year-low-as-trump-calls-it-doing-great-1769601058112
Bangladesh desk: https://tezzfeed.com/bangladeshi-news.md
Agent map: https://tezzfeed.com/llms.txt