Published On: Fri, Jan 26th, 2018

The U.S. dollar strengthens again after President Trump’s speech in Davos

The U.S. dollar strengthens again after President Trump's speech in Davos

Theresa May and Donald Trump in Davos –

US President Donald Trump said the dollar would continue to strengthen and that Treasury Secretary Steven Mnuchin’s words to support dollar had been distorted. Trump who delivered a speech in Davos said “The dollar is going to get stronger and I want to see a strong dollar eventually”

The US President said in his speech on Thursday that the dollar would gain strength together with the US economy continuing to grow.

Following Trump’s speech, the dollar made up for losses it incurred the day before after Treasury Secretary Mnuchin’s statement supposed to be in support of the weak dollar. US Treasury Secretary Steven Mnuchin had made a speech at the Davos Summit held by the World Economic Forum, the other day and stated that “the decline in the dollar would support the US economy through foreign trade”. The dollar has been trading at its lowest level in three years.

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