Trump is Causing the Chinese Currency Drop He Decries - Expert

as mentioned in EU-US trade relations have been tense ever since Trump imposed high tariffs on steel and aluminium imports in June. China's yuan continues to slip against the US dollar as the Chinese central bank continues weakening the national currency to offset trade losses. Once a tariff war precipitates into a currency war, and we are coming close to that, then we have a real trade war. "The Chinese currency is devaluing because the American currency is rapidly appreciating. So, Trump is causing devaluation of the Chinese yuan," Rasmus said.

Dollar Slides After Trump Calls Strong Currency a 'Disadvantage'

WSJ Dollar IndexEurope's "making money easy, and their currency is falling," Mr. Trump told CNBC. AdvertisementThe Fed raised interest rates by a quarter percentage point in June for the second time this year. Gold prices pared losses on Mr. Trump's comments. Mr. Trump and officials in his administration have previously expressed views on the dollar. In January of 2017, Mr. Trump said in a Wall Street Journal interview that a strong dollar was hurting U.S. companies' ability to compete with their Chinese counterparts.

Dollar Slides After Trump Calls Strong Currency a 'Disadvantage'

Dollar Rally Ends With Trump Monetary Policy And Currency War Comments

as mentioned in The European Central Bank (ECB) will announce its main refinancing rate on Thursday, July 26 at 7:45 am EDT with little expectations of a change. ECB President Mario Draghi will host a press conference at 8:30 am EDT with the market focused on his comments for insights into the monetary policy of the central bank. US President worried about Fed's monetary policy triggers currency war. European Central Bank meeting anticipated to be a quiet affair. The European Central Bank (ECB) will feature on Thursday, but there is little expectation that new guidance will be provided after the June monetary policy meeting.

collected by :Mathio Rix

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