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European Central Bank hits out at Washington for talking down dollar

Striking a moderately dovish tone, Draghi also pushed back on rate hike expectations

Reuters  |  Frankfurt 

European Central Bank chief Mario Draghi took a swipe at Washington on Thursday for talking down the dollar, a move he said threated a decades-old pact not to target the currency and might force his bank to change its own policy. Singling out the euro’s surge as a source of uncertainty, Draghi said any unjustified move could force the ECB to rethink its strategy as a strong currency could put a lid on inflation, thwarting its efforts to lift prices. He was speaking after US Treasury Secretary Steven Mnuchin this week said he welcomed a weak dollar because it was good for ...

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First Published: Fri, January 26 2018. 00:26 IST