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Donald Trump sent the dollar into a slide on Wednesday after complaining the currency has risen too high, and in early Asia trade the Japanese yen is still holding at a five-month high.

In an interview with The Wall Street Journal, Mr Trump said: “I think our dollar is getting too strong, and partially that’s my fault because people have confidence in me. But that’s hurting — that will hurt ultimately.”

The Japanese yen strengthened 0.1 per cent to ¥108.92 in early Asian trading on Thursday, holding at its highest since November 17.

Other Asian currencies gained on the dollar following Trump’s comments. South Korea’s won strengthened to Won1134.88 per dollar, up 0.5 per cent to its highest since Friday. The New Zealand dollar was up 0.4 per cent stronger against the dollar at $0.6992 while the Australian dollar was up 0.2 per cent at $0.7539.

The dollar index measuring the currency against six of its peers weakened 0.7 per cent to 100.09.

Copyright The Financial Times Limited 2017. All rights reserved.
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