Dollar extends losses on Trump's remarks

US dollar fell against most of the major currencies today after comments by the US Federal Reserve Chairman, Jerome Powell, and President Trump.

Trump renewed his attack on the Federal Reserve and China via his Twitter account, as he tweeted "who's our bigger enemy, Jerome Powell or President Xi Jinping?"

The Chinese government announced its plan to impose a 10% tariff increase on US imports worth $75 billion, in response to Trump administration's decision to impose a 10% tariff on imports of Chinese goods worth $300 billion.

And Trump ordered US companies to prepare for an alternative to China and said that US companies should also be prepared to come back home.

The US Federal Reserve Chairman said today on the sidelines of the Jackson Hole forum that the bank will act with the necessary measures in the appropriate time.

Meanwhile, by 16:43 GMT, dollar index fell by 0.4% to 97.6 points, with a high of 98.4 points and a low of 97.5.