Saturday 21 September 2019

Make America rate again: Trump's Fed fury as euro plummets against the dollar

Donald Trump
Donald Trump

The euro fell to its weakest against the dollar in over two years on news of yet more political turmoil in Italy and as President Donald Trump once again blasted the strong US currency.

Weak economic data from Europe this week has all but nailed a rate cut from the European Central Bank, a move that will likely see the single currency fall further against the dollar. It fell by as much as 0.7pc to $1.0985.

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"The Euro is dropping against the Dollar "like crazy," giving them a big export and manufacturing advantage...and the Fed does NOTHING! Our Dollar is now the strongest in history," Mr Trump wrote on his Twitter feed as the dollar surged.

"Sounds good, doesn't it? Except to those (manufacturers) that make product for sale outside the US," the President wrote.

Irish Independent

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