European Central Bank hits out at Washington for talking down dollar

Striking a moderately dovish tone, Draghi also pushed back on rate hike expectations

European Central Bank chief Mario Draghi took a swipe at Washington on Thursday for talking down the dollar, a move he said threated a decades-old pact not to target the currency and might force his bank to change its own policy.

Singling out the euro’s surge as a source of uncertainty, Draghi said any unjustified move could force the ECB to rethink its strategy as a strong currency could put a lid on inflation, thwarting its efforts to lift prices.

He was speaking after US Treasury Secretary Steven Mnuchin this week said he welcomed a weak dollar because it was good for