Trump complained about the US dollar’s strength throughout 2019 — but these 8 major currencies were even stronger

A member of the Technical Investigation team holds a negative of a hundred-dollar bill used to print fake dollars in Caldas town in Medellin April 29, 2010.

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A member of the Technical Investigation team holds a negative of a hundred-dollar bill used to print fake dollars in Caldas town in Medellin April 29, 2010.
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REUTERS/Fredy Builes

President Trump railed against the US dollar’s relative strength through much of 2019, but eight major currencies are on track to outperform the dollar this year.

The US dollar index DXY is up roughly 1.2% in the year-to-date, surging in strength despite summer recession warnings and continued trade war tensions. It performed best against the Turkish lira this year, a Bank of America note comparing major currencies said Friday.

Trump reportedly asked White House aides to look into ways to devalue the American currency in early July. A weaker dollar would give the US an advantage in international trade, but currency manipulation would also cut into the country’s reputation abroad. Trump even critiqued China in the summer for how its central bank allowed the yuan to slip below a key psychological level in early August.

Here are the eight major currencies that outperformed the US dollar in 2019, ranked in ascending order. Performance is as of December 11.


8. Singapore dollar

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Supertrees at Gardens by the Bay, illuminated at night, Singapore, Southeast Asia, Asia – stock photo
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Getty Images / Gavin Hellier

Performance against US dollar: 0.4%


7. Taiwanese dollar

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Getty Images

Performance against US dollar: 0.7%


6. Japanese yen

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REUTERS/Shohei Miyano

Performance against US dollar: 1.0%


5. Indonesian rupiah

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Indonesian rupiah notes are seen at a money changer in Jakarta
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Thomson Reuters

Performance against US dollar: 2.5%


4. Mexican peso

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A man arranges Mexican 5 Pesos Hidalgo silver coins at currency exchange shop in Ciudad Juarez, Mexico January 15, 2018.
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Jose Luis Gonzalez/REUTERS

Performance against US dollar: 2.8%


3. British pound

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FILE PHOTO: British five pound banknotes are seen in this picture illustration
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Reuters

Performance against US dollar: 3.4%


2. Canadian dollar

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The new Canadian 100 dollar bills made of polymer are placed in glasses of juice, cola and water in Toronto November 14, 2011.
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REUTERS/Mark Blinch

Performance against US dollar: 3.5%


1. Russian ruble

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Russian artist Vasily Slonov attaches a banknote as he creates an artwork depicting a portrait of Russian President Vladimir Putin based on a layer of U.S. dollars, Russian and Soviet roubles at his workshop in Krasnoyarsk, Siberia, November 13, 2014.
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REUTERS/Ilya Naymushin

Performance against US dollar: 10.2%

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