affect free trade. the euro surge to a fresh high after european central bank chief mario draghi highlighted what he called solid and broad growth in the common currency area the euro jumped about one percent to its highest level since mid december twenty fourth teen but then retreated druggy called the exchange rate volatility our quote source of uncertainty that needed monetary he also took an indirect jab at u.s. treasury secretary steven lucian for saying this week that a weaker dollar helped us straight they see the president responded that global leaders had a strong standing agreement to reframe and competitive devaluations. all right let s talk about this with our correspondent on wall street yes is this all talk or is there serious concern about the currencies. it certainly is incredible what happens on the currency markets these days and we can we wonder what influence does
a weaker dollar helps us straight they see the president responded that global leaders had a strong standing agreement to reframe and competitive devaluations. all right let s talk about this with our correspondent on wall street the ends call to yes is this all talk or is there serious concern about the currencies. it certainly is incredible what happens in the currency markets these days and we can really wonder what influence does the head of the treasury with his top really have on the currency yes it did have an impact but on the other side isn t it more on the monetary side meaning the federal reserve what really drives the dollar higher or lower and by now monetary policy in the u.s. for quite some time is by far not as excessive as we see it with the e.c.b. in europe and a lot of economists actually believe that specially with the tax reform here in the united states a lot of money could flow back to the united states so that could strengthen the
that needed monitoring he also took an indirect jab at u.s. treasury secretary steven nugent for saying this week that a weaker dollar helped us trade the e.c.b. president responded that global leaders had a longstanding agreement to refrain from competitive devaluations. and we stay at the world economic forum because donald trump has arrived in davos as a spectacle and it s all about america first the president s visit comes amid announcements of new chair of set by the u.s. government that have been heavily criticized mostly between the lines of other davos speakers in his first day at the world economic forum trump held several bilateral talks behind closed doors. the big moment has arrived donald trump is in davos mr america first himself and what s mostly been an assembly of multilateralist the elephants in the room have names like trade wars and punitive tariffs expressions that stand for the u.s. is in
of course he did not do that on day one. here is what donald trump said about china to the financial times ten days ago. when you talk about currency manipulation, when you talk about devaluations, they are world champions. and then here is what donald trump said today on day 83 about china to the wall street journal. quote, they re not currency manipulators. joining us now, eli stokols, white house correspondent for the wall street journal. also joining us ana marie cox, mtv news, senior political correspondent and post of the podcast with friends like these. eli so, the wall street journal has donald trump saying they re not currency manipulators. as i understand it, he had this amazingly beautiful piece of chocolate cake with the president of china, and somewhere in that moment the president of china after the
i blame or politicians for letting this take place. as recently as ten days ago, april 2nd, president trump told the financial times, quote, when you talk about currency manipulator, when you talk about devaluations, they are world champions. and our country hasn t had a clue. yesterday the president told the wall street journal, quote, they re not currency manipulators. he he seemed to explain his abrupt change by pointing to north korea, telling the journal, we have tremendous drad deficits with everybody, but the big one is with china. i told them, i said, you know, we re not going to let that go ahead. now, i did y, you want to make a great deal? solve the problem in north korea. that s worth having deficits. and that s worth having not as good a trade deal as i normally would be able to make. trump s comments came after chinese president xi jinping,