Article in the FT sending the euro higher

Trumps trade adviser Peter Navarro has been speaking to the FT

  • Euro is like an implicit Deutsche Mark

  • Low valuation gives Germany an advantage over its main partners

  • Germany is one of the main hurdles to a trade deal with the EU

  • Talks with the EU over the TTIP are dead due to Brexit

It looks like no country is safe from Trump and his administration taking potshots, and many of them have a valid point. If I look out my window to the east I can almost see the angry steam rising from Germany. We'll await their due response ;-)

The full FT article is here (gated).

EURUSD has gone sailing up to 1.0763 as USDJPY sinks to 113.39.