Dollar drops to 3-year low after Mnuchin praises weak US currency
Source: The Hill
BY JOHN BOWDEN - 01/24/18 04:02 PM EST
The U.S. dollar dropped to a three-year low on Wednesday after Treasury Secretary Steven Mnuchin praised the declining value of the currency in remarks at the World Economic Forum in Davos, Switzerland.
The ICE U.S. Dollar Index, which measures the strength of the dollar against six other currencies, dropped 0.5 percent to 89.66 on Wednesday, marking the first time in three years the index has fallen under 90 points. The previous low was 70.69 at the height of the U.S. financial crisis in March 2008.
News of the dollar's drop comes just a day after Mnuchin told business leaders in Davos that a sinking dollar value "is good for us as it related to trade and opportunities."
"Longer-term, the strength of the dollar is a reflection of the strength of the U.S. economy and the fact that it is and will continue to be the primary currency in terms of the reserve currency," Mnuchin said Wednesday.
Read more: http://thehill.com/policy/finance/370566-dollar-drops-to-3-year-low-after-mnuchin-praises-weak-us-currency
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imports, exports...what's the difference. 
Sometimes brain and fingers don't communicate.
With an economy as dependent on imports as ours, it could get rather painful for the demographics that heavily voted for shit gibbon. And the rest of us outside the 1%.
