The dollar fell to a five-week low after U.S. President Donald Trump said he'd prefer not to impose tariffs on China. In an interview with Fox News aired Thursday, he said China doesn't want tariffs and he would "rather not" use them.

The dollar was modestly lower on Thursday in a choppy session, after comments from U.S. President Donald Trump called for lower interest rates while providing no clarity on tariffs, and investors awaited a round of policy announcements from global central banks.

The dollar was rising ahead of remarks from U.S. President Trump at the World Economic Forum in Davos, Switzerland later. Trump is due to speak remotely at 4 p.m. "One new area of interest may be the international tax code,