Trump's Trade Advisor Accuses Germany Of Using "Grossly Undervalued" Euro - FT

Peter Navarro, the head of Trump’s new National Trade Council, told the Financial Times that Germany is using a grossly undervalued euro to exploit the US and its EU partners.

Key headlines:
   •   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

News of the statement sent the EUR/USD pair sharply higher, spiking to fresh multi-day tops near 1.0760-65 region.