Trump accuses the ECB of manipulating the foreign exchange markets
Trump does this again when he chirps that the morning announcement of the ECB is designed to weaken the euro against the dollar. The foreign exchange market responds with volatility
A few hours after the speech by ECB Chairman Mario Draghi, which hinted at further cuts in interest rates and even the launch of a new acquisition plan, comes the response of the US president, who attacks the central bank and claims that it is manipulating the markets Forex.
“Mario Draghi announced additional incentives that could come, which immediately caused a decline in the value of the euro against the dollar, which causes unfair competition with the US. They have been dealing with this for years, together with China and others, “the president piped.
In the background for today’s events, the Dollar Index (DXY: DXY) is now trading at slight gains around 97.2 points. The euro was down 0.2% against the greenback, trading at $ 1.119.
It should be noted that the president’s statements come in the background of trade talks between the parties, when it appears today that the chances of imposing tariffs on the European Union following the devaluation (according to Trump) rise significantly.
Draghi hints at a new acquisition plan and interest rate cuts, markets react