TRUMP ADVISER: Germany is exploiting the EU and US with a 'grossly undervalued' euro

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January 31, 2017 2:42 PM

US President Donald Trump's trade adviser Peter Navarro told the Financial Times that Germany is using a "grossly undervalued" euro to its advantage against other nations in the European Union and against the United States.

Screen Shot 2017 01 31 at 7.48.09 AM

The euro jumped after the report crossed the wires, and touched a five-day high of 1.0764 against the dollar.

It is up by 0.6% to 1.0763 against the dollar as of 7:48 a.m. ET.

"," Navarro, the head of Trump's new National Trade Council, told the FT on Tuesday.

The Transatlantic Trade and Investment Partnership, or TTIP, is a proposed trade agreement between the EU and the US.

Last week, Ted Malloch, the man who is tipped to become the US ambassador to the EU, told the BBC that the euro "could collapse" in the next 18 months.

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