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Germany's Schaeuble rejects U.S. criticism of euro level
February 3, 2017 / 11:27 AM / a year ago

Germany's Schaeuble rejects U.S. criticism of euro level

BERLIN (Reuters) - German Finance Minister Wolfgang Schaeuble on Friday rejected criticism from U.S. President Donald Trump’s administration of the euro’s exchange rate.

German Finance Minister Wolfgang Schaeuble attends the World Economic Forum (WEF) annual meeting in Davos, Switzerland January 19, 2017. REUTERS/Ruben Sprich

Trump’s top trade adviser earlier this week accused Germany of using a “grossly undervalued” euro to gain advantage over the United States and its own European Union partners.

Schaeuble said some of Trump’s advisers had not understood that European monetary policy was not decided by the German government “but rather someone else”, with reference to the European Central Bank.

“With regard to what we are seeing in the United States of America, it is rather difficult to see where things are going exactly,” he added.

Writing by Paul Carrel; Editing by Michelle Martin

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