Donald Trump, the United States President accused China and Europe of manipulating their currencies. The announcement generated uncertainty in the markets and sparked fears that the U.S may ultimately impose taxes on Europe after Trumps renewed warnings. Robert Carnell Dutch's bank ING Chief Economist said that
“Accusations of Eurozone currency manipulation are flying from the White House with talk of tariffs on the EU and European countermeasures heating up trade tension between the two regions".
Last Wednesday in a tweet, Trump said: “China and Europe playing big currency manipulation game and pumping money into their system in order to compete with the USA.”
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Weekly Report - 08/07/2019