Euro slips despite Trump criticism of ECB's

Euro fell slightly against the dollar today despite criticism from US President Donald Trump of the European Central Bank, as Trump accused the bank of working to weaken the single European currency in order to take competitive advantages at the expense of the United States.

Trump said that the ECB's monetary stimulus programs are pushing the euro lower, which means exports - because they are cheaper - are rising against their US counterparts.

Central Bank President Mario Draghi responded to Trump's comments by denying any targeting by the bank to a specific exchange rate, and stressed the free movements of the currency without intervention in the markets.

Draghi also noted that the central bank would inject more monetary stimulus, lower interest rates or carry out asset purchases if economic forecasts did not improve and inflation remained near low levels.

In terms of trade, by 17:14 GMT, EUR/USD fell by 0.1% to 1.1202, with a high of 1.1245 and a low of 1.1182.