Trump hurts Dollar as he attacks US Federal Reserve’s policy of raising interest rates
President Trump has criticised the US Federal Reserve’s policy of raising interest rates
President Trump sent the dollar lower as he criticised the US Federal Reserve’s policy of raising interest rates, saying it would take away from the United States competitive edge.
In a series of tweets, he also accused the EU and China of ‘manipulating their currencies and interest rates lower, while the US is raising rates while the dollars gets stronger and stronger with each passing day – taking away our big competitive edge. As usual, not a level playing field’.
His posts sent the dollar lower against the euro, the Chinese yuan and Japanese yen.
Trump’s comments on the Federal Reserve broke with decades of tradition. The White House does not normally intervene in decisions taken by the independent central bank.