Treasury Secretary tells Davos US welcomes a weakening dollar

Mnuchin’s comments provided fresh trigger for dollar selling and raised questions if a weaker US currency could provide a long-term impetus for the economy.
The U.S. dollar extended its recent rout to hit three-year lows on Wednesday after U.S. Treasury Secretary Steven Mnuchin said he welcomed a weakening in the dollar. Fears of protectionist trade policies by the United States had already pushed the greenback to a three-year low, and Mnuchin’s remark at the annual Davos summit of business and political leaders pushed it down further.