In an interview in Davos on January 24, 2018, Treasury SecretarySteve Mnuchin reiterated the Trump administration view that a "weaker dollar is good for trade". "It will also raise fears about the risk of global currency wars again - although we should be careful not to read too much into an errant comment made at Davos".
Mnuchin's statement may have had all the more ring of policy because of the Trump administration's assertive "America First" goal of reducing the approximately $500 billion annual US trade deficit.
"It's quite significant given that this is the first time in a very long time that a Treasury secretary has spoken against a strong dollar", said Sireen Harajli, FX strategist at Mizuho.
The treasury secretary reiterated that the dollar's strength over the long term was reflective of the strength of the U.S. economy.
The loonie jumped almost three-quarters of a cent Wednesday, punching above the 81-cent mark, following comments by the U.S. Treasury Secretary that a weaker greenback is good because it helps American exporters.
The Treasury Secretary said that Trump's visit to Davos was to interact with other global leaders and to ensure that they understand his agenda.
The proximate cause of the overnight move was the "a weaker dollar is good for us" commentary from US Treasury Secretary Steven Mnuchin, with gold in USD now having moved beyond important resistance levels near USD $1345oz.
Whether or not the White House choreographed the dollar's slide to its lowest level in three years, the United States administration is certainly providing ammunition for those betting that the greenback will continue to weaken.
The U.K.'s pound also saw a jump in value, trading at $1.4097 on Wednesday, up from $1.4 on Tuesday.
Meanwhile, the USA dollar traded at 0.8043 euro, down 0.0063 euro;gold was up US$13.72 to US$1,363.43 per ounce as at 1.03pm. But it fits with the Trump administration's stance on trade policy aimed at supporting exporters and reducing the nation's gaping trade deficits. Lagarde reiterated the IMF's view, presented in its World Economic Outlook this week, that the U.S. tax reform is likely to lead to dollar's strengthening in the medium term. "Perhaps Mnuchin will walk back his comments, but the message seems clear - this is what President Trump thinks and wants". "So we're very happy with where the currency is at the moment", he said.
Twenty-three jurisdictions received letters Wednesday, including the states of Illinois, Oregon, and California. Lois Frankel, a Democrat who represents most of Palm Beach County, called the letter "outrageous".
What will the clones be used for? The Scottish Council on Human Bioethics warned the research "opens the door" to human cloning. Investigators say the researchers followed global guidelines for animal research set by the National Institutes of Health.
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Edmund, the lone Briton in the men's draw after the withdrawal of Andy Murray , slammed 25 aces on Hisense Arena. As he had done in the second set, though, Dimitrov played a poor game serving for it and back came Kyrgios.
The military said it had hit 153 targets so far, including shelters and hideouts used by Kurdish militants. On Sunday, President Bashar Assad condemned the "brutal aggression" on Afrin but didn't repeat the threat.
Angelique Kerber waltzed into the semifinals of the Australian Open after crushing American Madison Keys . The 21 seed will play the victor of the match between No. 1 Simona Halep No. 6 Karolina Pliskova .
Even Palm Beach, Florida, home to Mr Trump's Mar-a-Lago estate, saw several hundred people assemble bearing anti-Trump placards. Natalie Portman says male sexualisation as a teenager made her rethink which films to work on.
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The Senate confirmed Alex Azar on Wednesday as the next Department of Health and Human Services secretary. Andy Harris, a Baltimore County Republican who represents the Eastern Shore said in a statement.
Some parks are in winter season and see winter sports enthusiasts like snowmobilers, snowshoers, skiers and wildlife watchers. This stands in contrast to the last government shutdown in 2013, when gates were closed and people told to leave the park.
SpaceX conducts Falcon Heavy static fire test
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Search underway for woman who fell overboard on cruise
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GOP Senator Blames Trump Aide for Impasse
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Dortmund still waiting on 'concrete' offer for Aubameyang
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