Investing.com – The euro declined against the u.s. dollar on Tuesday, as us president Donald Trump has continued to put pressure on the Fed to lower rates by criticizing the European Central Bank.
EUR/USD slipped 0.3% to 1,1185 at 17: 05, while the dollar index, which measures the greenback’s strength against a basket of six major currencies, was up 0.1% 97,20.
Trump has criticized the president of the ECB, Mario Draghi, who said earlier in the day that he would need more money for stimulus and rate cuts in the economy if the euro zone does not improve.
Trump then tweeted that the rise in the German DAX due to the comments of Draghi was “very unfair for the United States.”
The president has urged the Fed to reduce its rates, which have increased from 0% to 2.5% over the past three years.
The central bank meets on Tuesday and Wednesday and is expected to keep rates unchanged, but may reduce them later in the year.
The dollar was slightly down against the japanese yen, with USD/JPY down 0.1% to 108,49.
The british pound was slightly higher, with GBP/USD rising 0.1% to $ 1.25, while the USD/CAD has lost only 0.1% of 1.34.