(Reuters) U.S. President Donald Trump said on Monday he was “not thrilled” with Federal Reserve Chairman Jerome Powell for raising interest rates and accused China and Europe of manipulating their respective currencies.
JUAN PEREZ, SENIOR CURRENCY TRADER, Monex, INC., WASHINGTON:
“The U.S. dollar’s safe-haven role may be fading as improving economic indicators such as GDP in the euro zone and inflation across the Atlantic naturally are pushing up the buck’s main rivals. Additionally, Trump’s comments on the Fed’s hike path look like an attempt to do the exact thing we are accusing others of doing: purposeful depreciation based on intervention. We see tough times for the dollar ahead as economic momentum helps other currencies recover and negative language influences a drop of dollar strength.”
