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MarketWatch First Take: ‘Currency war’ fears rise as Trump slams Draghi’s hint at more ECB stimulus

President Donald Trump has never hesitated to criticize the U.S. Federal Reserve and the chairman he appointed, Jerome Powell, for, in Trump’s view, tightening too aggressively. Now it is European Central Bank President Mario Draghi’s turn.

Trump’s hostile response on Twitter to Draghi’s signal that the ECB could move to provide further monetary stimulus as early as next month is stoking fears that a potential U.S. trade war with its major trading partners could also be accompanied by a currency war, as policy makers work to cheapen their currencies in what’s often is described as a race to the bottom in an effort to enhance the appeal of their wares to foreign buyers.

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