The Dollar Index, which tracks the U.S. currency against six leading trading partners (but not China), fell the most in a single day since last April 10, when it tumbled almost 2% amid mounting trade disputes and U.S. threats to impose a 145% tariff on China. That same day, the S&P 500 slid 3.5% and the Nasdaq Composite sank 4.3%.

The U.S. dollar fell to its lowest level in four years on Tuesday despite President Donald Trump claiming it was “doing great” in a speech in Iowa.

The American dollar continued to plummet against other currencies on Tuesday, leaving one currency expert to wonder if the United States administration is looking to devalue the greenback on purpose.

The dollar struggled to bounce back Wednesday following another selloff fuelled by Donald Trump's suggestion he was happy with the currency's recent decline, while tech firms helped most Asian equity markets extend their rally.

President Donald Trump’s relaxed tone about the dollar selloff is fueling speculation the US currency is at the start of a longer-term decline.