No currency manipulation, said Draghi

“We are not currency manipulators,” said Mario Draghi, President of the ECB, about his institution and Germany during a Q&A session in the European Parliament on February 6, 2017. Draghi replied to accusations made by Peter Navarro, an economic advisor to US President Donald Trump. Navarro accused Germany of using a “grossly undervalued” euro that deepens the US trade deficit. According to Cyceon, the words of Draghi should not be heard in the White House where some believe that the euro is somehow a Deutsche Mark at the “quasi-exclusive” service of Germany.