What's behind 3-year-low dollar index


Still, officials "will now need time to change the prevailing market view that in current circumstances the US would be content with further dollar slippage", said Alan Ruskin, global co-head of FX strategy at Deutsche Bank, in a note to investors.

Aso also said he would not comment on remarks made by foreign government officials, when asked about the views of Trump and Treasury Secretary Steven Mnuchin on currency policy.

"We're very happy with where the currency is at the moment", Hammond said in an interview with Bloomberg Television in Davos, Switzerland Thursday.

The decline of the dollar comes after Mnuchin's speech to business leaders in Davos, where he said that the decline in the value of the USA dollar "is good for us as it related to trade and opportunities".

"Trump was due later at the WEF and is expected to argue that his policies, created to boost the USA economy, should be welcomed by the worldwide business community".

The dollar slumped after Mnuchin told the World Economic Forum in Davos that "obviously a weaker dollar is good for us as it relates to trade and opportunities". Many of them are helped by a weaker dollar, and the US currency declined again Friday.

"Foreigners will not fund US debt if the policy of the United States is to degrade the stability of the dollar", Bove, of the Vertical Group, said in a report.

Dirty Money: VW apologised for conducting diesel tests on animals
Daimler and BMW tried to distance themselves from the tests, stressing that none of their cars had been used in the experiments. Daimler , which owns Mercedes , told the AFP news agency it "condemns the experiments in the strongest terms".

Statements made by Stephen Mnuchin the Treasury Secretary on Wednesday sent gold prices sharply higher, and the United States dollar index sharply lower.

The Goods Trade Balance is expected to improve to -68.6 billion and Preliminary Wholesale Inventories are forecast at 0.4%.

Economist Lawrence Summers wrote an op-ed in the Washington Post, saying Mnuchin "fails on style and substance". In the meantime, if bond traders want to get bent out of shape over every word that comes out of the Treasury Department, that's their problem.

The euro had reached that peak after European Central Bank President Mario Draghi said economic data pointed to "solid and broad" growth with inflation likely to rise in the medium term.

The U.S. economy grew at an annual rate of about 3% in the previous two quarters, and a third consecutive quarter at that pace would be a big boost for Trump as he begins his second year in office. In multiple interviews past year, Trump said that he was in support of a weak dollar. American long rates surged January 10 following reports that China could cut investment in USA government bonds.

The dollar fell to an over four-month low of ¥108.50 in NY before recovering to the upper ¥109 level following Trump's strong dollar remark.

That's different from April when he said the dollar was "getting too strong".

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