US dollar saw losses against major currencies, particularly the Japanese yen, after President Donald Trump made statements related to the pharmaceutical industry.
Trump went into a meeting with pharma CEOs and told them to manufacture drugs in the United States. The president said it was “unfair” what other countries were doing to the US. He said China and Japan “play the devaluation market while we sit like a bunch of dummies.”
The president vowed to lower drug prices and cut regulations.
The dollar dropped 1.20% against the Japanese yen to 112.34 (4:36 pm CET). It was also down 0.86% against the euro to 0.9269 and 0.46% against the British pound to 0.7972.
Image: EPA / Albin-Lohr Jones
