King Dollar's crown grew a bit lighter Tuesday after Donald Trump said in an interview with the the Wall Street Journal that he thought the greenback was too pricey.

Currency traders took this as a cue that the President would take concrete steps to reduce the value of the dollar, and sent the Dollar Index down 0.70% as of mid-day on Tuesday.

(function () { var attempt = 0, init = function(){ if (window.pym) { var pymParent = new pym.Parent("av-dollar-index20170118", "", {}); } else if (attempt++ < 40) { setTimeout(init, 50); } }; init(); })();

Data:; Chart: Andrew Witherspoon / Axios

Meanwhile, across the pond: Trump adviser Anthony Scaramucci told an audience at Davos that he thought the U.S. economy could shrug off the effects of a strong dollar, and that the focus of the administration should be on infrastructure spending and tax and regulatory reform that would result in "robust growth."

Scaramucci's remarks are more closely in tune with markets than Trump's comments. The U.S. dollar has surged against other major currencies since election day. That trend that will work against Trump's goals of shrinking the U.S. trade deficit and revitalizing the manufacturing job market stateside, as a stronger dollar makes it more expensive for foreigners to afford U.S. goods.

How markets will handle the mixed messages: Currency traders jumped on Trump's comments to the Journal as evidence that he would make it a priority to intervene in currency markets and force the dollar down. But there's no avoiding the fact that other Trump promises, like tax cuts and infrastructure spending, will make the dollar more attractive in the long run.

Bottom line: Despite today's market moves, the dollar remains more than 2.5% more expensive than it was on election day. Economic fundamentals say that a stronger dollar is the safe bet, and it will maintain its strength until the administration unveils specific policies to reverse the trend.

Go deeper

Trump tightens screws on ByteDance to sell Tiktok

Illustration: Aïda Amer/Axios

President Trump added more pressure Friday night on China-based TikTok parent ByteDance to exit the U.S., ordering it to divest all assets related to the U.S. operation of TikTok within 90 days.

Between the lines: The order means ByteDance must be wholly disentangled from TikTok in the U.S. by November. Trump had previously ordered TikTok banned if ByteDance hadn't struck a deal within 45 days. The new order likely means ByteDance has just another 45 days after that to fully close the deal, one White House source told Axios.

Updated 44 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Aïda Amer/Axios

  1. Global: Total confirmed cases as of 9:30 p.m. ET: 21,056,850 — Total deaths: 762,293— Total recoveries: 13,100,902Map.
  2. U.S.: Total confirmed cases as of 9:30 p.m ET: 5,306,215 — Total deaths: 168,334 — Total recoveries: 1,796,309 — Total tests: 65,676,624Map.
  3. Health: CDC: Survivors of COVID-19 have up to three months of immunity Fauci believes normalcy will return by "the end of 2021" with vaccine — The pandemic's toll on mental health — FDA releases first-ever list of medical supplies in shortage.
  4. States: California passes 600,000 confirmed coronavirus cases.
  5. Cities: Coronavirus pandemic dims NYC's annual 9/11 Tribute in Light.
  6. Business: How small businesses got stiffed — Unemployment starts moving in the right direction.
  7. Politics: Biden signals fall strategy with new ads.

Harris: "Women are going to be a priority" in Biden administration

Sen. Kamala Harris at an event in Wilmington, Del. Photo: Drew Angerer/Getty Images

In her first sit-down interview since being named Joe Biden's running mate, Sen. Kamala Harris talked about what she'll do to fight for women if elected VP, and how the Democrats are thinking about voter turnout strategies ahead of November.

What they're saying: "In a Biden-Harris administration women are going to be a priority, understanding that women have many priorities and all of them must be acknowledged," Harris told The 19th*'s Errin Haines-Whack.