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NEW YORK: A dollar rout intensified on Wednesday after U.S. Treasury Secretary Steven Mnuchin said a lower greenback was "good for us" - though a weaker U.S. currency may not prove a long-term economic boost. It was a highly unusual remark for a Treasury secretary.
NEW YORK: Donald Trump's comments that a strong dollar "puts us at a disadvantage" caused an instant fall in the greenback on Thursday and marked another example of the U.S. president commenting directly - and sometimes contradictorily - on the country's currency.
The US dollar is in rally mode. It first picked up steam as the 10-year Treasury yield edged towards the psychological level of 3% which it eventually breached.
NEW YORK: Buy the US dollar. Again. That’s the message for next year from the biggest banks trading in the US$5.3-trillion-a-day currency market.