Draghi Hits Back at Mnuchin in Global Currency War of Words
- Says the comments may violate conventions on exchange rates
- ECB president makes remarks as Trump arrives in Switzerland
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European Central Bank President Mario Draghi attacked the U.S. Treasury Secretary’s comments on the dollar, saying he isn’t playing by the rules.
Speaking in Frankfurt on Thursday, Draghi said recent euro-dollar moves are partly down to Steven Mnuchin’s intervention at the World Economic Forum in Davos, at which he said a weaker greenback is good for U.S. trade. The remarks breach a pledge by IMF members, Draghi said.