Euro drops on Mario Draghi's speech

During Tuesday's morning, the European Common Currency depreciated 50 pips or 0.44% against the US Dollar. Note, that the Euro also depreciated against other major currencies.  

The reason for the drop is the speech by the ECB President Mario Draghi. He attempted to reassure the market that the Bank is able to act amid increasing concerns on the real effect of the EU monetary policy in case a new recession occurs. 

The US President Donald Trump criticized Mario Draghi's plans to cut interest rates, as it would weaken the euro and put the US at a competitive disadvantage.