The Latest: Draghi pushes back against US weak dollar view
FRANKFURT, Germany (AP) — The Latest on the European Central Bank's monetary policy meeting (all times local):
4:00 p.m.
European Central Bank head Mario Draghi is pushing back against statements by U.S. Treasury Secretary Steven Mnuchin that a weaker dollar benefits the U.S.
Draghi was asked about recent U.S. administration statements on the dollar at a news conference Thursday and while not mentioning Mnuchin by name, he reiterated statements agreed by global financial issues that they will "refrain from competitive devaluations."
A weaker dollar also means a stronger euro, and that's a headache for Draghi. A stronger currency can hurt exporters, and makes it harder for the ECB to reach its goal of pushing inflation up from 1.