Dollar falls, emerging markets rally after Trump's Fed attack

The dollar weakened Tuesday after U.S. President Donald Trump slammed the Federal Reserve for raising interest rates, while global equity markets rose as strong economic and earnings growth favored stocks in a relatively benign environment.

Wall Street shares rose, following stock market gains worldwide, with the benchmark S&P 500 edging closer to an all-time high.

Trump said in an interview with Reuters on Monday that he was "not thrilled" with the Fed under his appointee, Chairman Jerome Powell, for raising rates and that the U.S. central bank should do more to boost the economy.

Trump also accused China and Europe of manipulating their currencies. The euro is down about 3.8 percent so far this year against the dollar, while the Chinese yuan has slipped 5.1 percent this year against the greenback.

https://www.msn.com/en-us/money/markets/dollar-dives-emerging-markets-rally-after-trumps-fed-attack/ar-BBMdQgt