US dollar sinks to its lowest level in four years

The dollar has tumbled by 10% over the past year, while Tuesday’s fall was the largest one-day drop since last April. Photograph: Gary Cameron/Reuters

The US dollar has fallen to its lowest level in four years after Donald Trump brushed off concerns over the currency’s fall, sending investors fleeing to traditional havens including gold and the Swiss franc.

The dollar dropped by 1.3% against a basket of currencies after the president’s comments on Tuesday, marking its fourth day of declines, then slipped by a further 0.2% on Wednesday morning.