New Delhi, Jan. 30 -- The weakening dollar could turn out to be a problem for both Donald Trump and the Federal Reserve, even though the president told reporters in Iowa that the currency is "doing great."

Measured against a basket of six major currencies, the dollar is down 2.1% this month after a fall of over 9% last year. A further slide in its value threatens to create a high-inflation future, a problem for both the Republican Party and whoever wins the job as the next Fed chair.

Trump said Thursday he will reveal his choice of a nominee next week.

A weak dollar has always been part of the Trump agenda. "We have a big currency problem," Trump said in a 2024 interview with Bloomberg. "Nobody wants to buy our products because they're...