Mubasher: US President Donald Trump on Friday ratcheted up his criticism of global monetary policy as well as the Federal Reserve (Fed) via Twitter, while stating that many countries are manipulating their currencies against his country.

US President Trump’s statements came a day after an interview with CNBC, in which he accused the European Union (EU) and China of manipulating the value of their currencies.

"They're making money easy and their currency is falling," Trump told CNBC. "In China their currency is dropping like a rock and our currency is going up, and I have to tell you it puts us at a disadvantage."

He also claimed that the currency imbalances cost the US an estimated $150 billion with the EU.

In addition he said that he was not “thrilled” about the idea of the Fed raising interest rate, which brought about an immediate drop in the US dollar, when the economy is improving.

This broke the convention that presidents do not publicly criticise the Fed’s monetary policy, or directly comment on the greenback.