U.S. dollar slides to lowest since 2014 on Mnuchin remarks [Business News Network (BNN) Energy & Resources (Canada)]
Whirlpool Corporation (WHR)
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Source: Business News Network
U.S. dollar slides to lowest since 2014 on Mnuchin remarks LONDON - The U.S. dollar hit its lowest level since December 2014 on Wednesday after U.S. Treasury Secretary Steven Mnuchin said he welcomed its weakness and figures showed that the euro zone economy started the year at its strongest pace in over a decade. Fear of protectionism from the U.S. economy, the world's largest, had already pushed the greenback to a three-year low, but Mnuchin's remark at the annual Davos summit of business and political leaders pushed it down further. It was down half a percent against a basket of currencies in European trade. Meanwhile euro zone businesses enjoyed a much better start to 2018 than anyone polled by Reuters expected, ramping up activity at the fastest rate since the middle of 2006, a survey showed on Wednesday. The euro touched a three-year high of US$1.2356, the dollar fell below 110.00 yen for the first time since September and hit new three-year lows on a trade-weighted basis, while
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