One workaround that you can use is to long-press on the folder and choose "clear from recents".
An aside about moving folders to the Deleted folder:
I don't know how that is implemented in the Exchange protocol, but I have experience with IMAP.
My understanding is that because "children" extension (RFC 3348) to IMAP4 was separate from the "Special use mailboxes" extension (RFC6154), how the children of the special-use mailboxes should be handled might be somewhat under-defined. At least, I've seen some weird behavior from some IMAP servers when a folder is moved to Deleted (or, maybe it was a bug in the mail client program I was using).
So, my general strategy is to avoid creating sub-folders of any of the "Special-Use" folders (Sent, Deleted, Drafts, Archive, Junk (Spam), and a couple others that are used less frequently).
As for Exchange, I vaguely remember reading that Deleted folder is not rigorously (or not at all?) specified as a "special-use" folder in Exchange, so you may expect even more complications.