On Friday, August 23, the US Dollar depreciated 61 pips or 0.55% against the European Common Currency. Note, that the Greenback also depreciated against other major currencies.
One of the main reasons for the drop was a speech by the Federal Reserve Chair Jerome Powell during the Jackson Hole Economic Policy Symposium in Wyoming. During his speech, the Fed Chair said that the global economic outlook has been worsening, however, the US economy was close to reach its goals – price stability and full employment. Powell did not indicate where the interest rate should go, but promised that the US policymakers would act appropriately to sustain the expansion.
The other reason for the Greenback depreciation is the commentary made by the US President Donald Trump via Twitter. He negatively evaluated the Fed's policies and appraised effects of the US-China trade tensions on the US economy.