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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.

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Data:

Money.net; 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

2021 economy boomed at fastest rate in 37 years

Source: Bureau of Economic Analysis

The U.S. economy surged ahead with a 6.9% annual growth rate in the final months of 2021 and achieved the strongest growth over an entire calendar year since 1984.

Driving the news: New GDP numbers from the Commerce Department show a remarkable acceleration in economic activity, much faster than the 5.3% growth rate analysts expected.

The Fed isn't the only problem investors are worried about

Illustration: Aïda Amer/Axios

The Federal Reserve will be raising rates, just as the economy is slowing. The markets hate that.

Why it matters: The ugly start to the stock trading year doesn't just reflect Fed-induced agita — investors are also worried about a growth slowdown.

2 hours ago - Health

White House says Obamacare sign-ups hit record

Health and Human Services Secretary Xavier Becerra speaking in the White House in December 2021. Photo: Jim Watson/AFP via Getty Images

The White House said Thursday that a record 14.5 million Americans have signed up for health insurance through Obamacare marketplaces since Nov. 1, including more than 10 million enrollments through HealthCare.gov.

Why it matters: Last year's stimulus bill contained substantial investments in the program, including increased subsidies for people who don't receive health insurance from an employer or through Medicare or Medicaid.