The US dollar remained under pressure on Wednesday, struggling to regain footing after another wave of selling sparked by comments from President Donald Trump indicating he was comfortable with the currency’s recent slide. While the greenback faltered, Asian stock markets largely pushed higher, supported by strong gains in major technology companies.

Market participants are also focused on the outcome of the US Federal Reserve’s latest policy meeting, watching closely for any signals on the future path of interest rates. This comes at a time when investors are increasingly uneasy about the direction of US economic policy, especially following Trump’s renewed tariff threats.

The dollar has weakened broadly over the past few days, partly after reports emerged that the New York Federal Reserve had contacted market players to discuss movements in the Japanese yen. That development stirred speculation that Washington and Tokyo could be open to coordinated action to influence currency markets, reinforcing the view that US officials may be willing to tolerate a softer dollar.

Trump did little to counter that perception when questioned on Tuesday about the currency’s decline. Speaking in Iowa, he dismissed concerns as the dollar touched its lowest level against the euro in more than four years and slipped to a multi-month low versus the yen. He said the weaker currency was beneficial for business and insisted it should be allowed to find what he described as its fair level.

Read also: Abuja Strike: Court Set To Rule On Wike Lawsuit

The dollar also lost ground against the pound, the South Korean won and the Chinese yuan, and a modest rebound on Wednesday failed to erase most of those losses. Analysts noted that investor confidence in US assets has also been shaken by Trump’s latest confrontational trade rhetoric, including warnings aimed at European countries and Canada, which have added to market unease.

Adding to the cautious mood, a new survey showed US consumer confidence sinking to its weakest point since 2014, reflecting worries about inflation and persistently high living costs.

Despite currency jitters, equities across Asia advanced after Wall Street’s S&P 500 closed at another record, driven by heavyweight technology firms such as Apple, Microsoft and Amazon. South Korea led regional gains, with Seoul hitting a fresh all-time high as Samsung and SK hynix surged. Strong performances were also seen in Japan, Hong Kong, mainland China, Taiwan, the Philippines, India and Thailand.

In Europe, trading was more subdued, with London and Frankfurt little changed and Paris edging lower. Indonesia stood out for the opposite reason, as Jakarta’s stock market tumbled sharply after MSCI raised concerns over ownership issues and delayed changes to its index treatment of Indonesian shares.