ayondo's Hiscott: A currency war with the US is one the European Central Bank will not win

US 70% responsible for current rates

Jordan Hiscott, chief trader at ayondo markets, has said the European Central Bank's (ECB) involvement in the latest currency war between Europe and the US has the potential to reach new levels if the dollar remains weak.

Speaking to Investment Week, Hiscott said the ECB could "physically weaken" European markets in an attempt to drive down the euro because nations such as Italy and Spain are dependent on exports, which benefit from a weak euro. The chief trader said the US was 70% responsible for the euro trading around the €1.25 mark, however he said President Donald Trump was "not intelligent enough" to weaken the greenback on purpose. PIMCO's Sundstrom: It is the first time in my career where FX has had such a deep impact on asset selection Following comments from US Treasury Secretary Steven Mn...