Trump Says China's Currency 'Dropping Like a Rock'

As it stated in Trump told CNBC in an interview to be aired on Friday that strong dollar "puts us [the US] at a disadvantage," adding that "Chinese currency is dropping like a rock.""Because we go up and every time you go up they want to raise rates again… I am not happy about it. On Tuesday, Federal Reserve Chairman Jerome Powell affirmed that the Fed will continue to gradually raise interest rates, after increasing them twice already in 2018. In 2008, the Federal Reserve cut its benchmark interest rate to 0.25 percent as part of its response to an economic recession. The Fed began gradually raising interest rates in December 2015 and has hiked its benchmark a total of seven times since then and has indicated that it plans for two more rate increases this year.

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 Rally Ends With Trump Monetary Policy And Currency War Comments

As it stated 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