US Pres. Trump: ECB depreciating euro against very strong dollar

Eren Sengezer FXStreet

US President Donald Trump reacted to the European Central Bank's decision to lower its deposit facility rate by 10 basis points to -0.5% in a tweet that read:

"European central bank, acting quickly, cuts rates 10 basis points. They are trying, and succeeding, in depreciating the euro against the very strong dollar, hurting US exports."

Trump also took this opportunity to criticize the Fed. "And the Fed sits, and sits, and sits. They get paid to borrow money, while we are paying interest!"

Markets largely ignored Trump's comments as they remain focused on the ECB President Draghi's press conference.

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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