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GMC GROUP FOR INDUSTRIAL COMME   1.29        Telecom Egypt   11.48        Ismailia Misr Poultry   2.45        El Arabia for Investment & Dev   0.34        Modern Company For Water Proof   1.03        Pioneers Holding   2.84        Ezz Steel   7.86        Egyptian Real Estate Group   6.85        Rakta Paper Manufacturing   4.39        Orascom Telecom Holding (OT)   3.92        Naeem Holding   0.19        Egyptian Iron & Steel   6.87        Universal For Paper and Packag   4.94        Northern Upper Egypt Developme   4.93        Canal Shipping Agencies   7.39        Misr Chemical Industries   5.65        United Arab Shipping   0.43        Egyptians Housing Development    1.94        Egyptian for Tourism Resorts   0.69        Modern Shorouk Printing & Pack   7        Upper Egypt Contracting   0.8        Egyptian Financial Group-Herme   7.42        Orascom Construction Industrie   240.82        Heliopolis Housing   21.65        Raya Holding For Technology An   4.57        United Housing & Development   8.93        International Agricultural Pro   2.1        Gulf Canadian Real Estate Inve   18.08        Alexandria Pharmaceuticals   45.71        Arab Cotton Ginning   2.46        Egyptian Chemical Industries (   7.26        National Real Estate Bank for    11.84        Six of October Development & I   15.03        National Development Bank   6.72        Oriental Weavers   20.66        Arab Gathering Investment   16.29        Egyptians Abroad for Investmen   2.75        Palm Hills Development Company   1.61        Credit Agricole Egypt   9.04        Remco for Touristic Villages C   2.13        Commercial International Bank    29.87        El Ezz Porcelain (Gemma)   1.9        Egyptian Starch & Glucose   5.4        Arab Real Estate Investment (A   0.41        South Valley Cement   3.12        Citadel Capital - Common Share   2.5        Union National Bank - Egypt "    3.25        Ceramic & Porcelain   2.88        Rowad Tourism (Al Rowad)   5.05        El Nasr Transformers (El Maco)   4.78        Egyptian Media Production City   2.31        GB AUTO   27        Egyptian Transport (EGYTRANS)   7.85        Sharkia National Food   3.78        El Kahera Housing   4.97        El Shams Housing & Urbanizatio   2.45        Egyptian Kuwaiti Holding   0.7        ARAB POLVARA SPINNING & WEAVIN   2.11        Cairo Poultry   8.32        Egyptian Financial & Industria   8        T M G Holding   4.03        Asek Company for Mining - Asco   10.66        Misr Hotels   27        Egyptian Electrical Cables   0.56        Medinet Nasr Housing   22.51        Mena Touristic & Real Estate I   1.21        ELSWEDY CABLES   18        Prime Holding   0.91        Al Arafa Investment And Consul   0.17        Alexandria Spinning & Weaving    0.74        Gharbia Islamic Housing Develo   8.41        General Company For Land Recla   16.6        Alexandria Cement   8.9        Arab Valves Company   0.94        Sidi Kerir Petrochemicals   12.4        TransOceans Tours   0.09        Egyptian for Developing Buildi   6.43        Egyptian Gulf Bank   1.24        Kafr El Zayat Pesticides   18.19        Faisal Islamic Bank of Egypt -   35.1        National company for maize pro   11.86        Delta Construction & Rebuildin   4.03        Zahraa Maadi Investment & Deve   48.25        Samad Misr -EGYFERT   3.52        Egypt for Poultry   1.41        Cairo Development and Investme   11.7        Cairo Pharmaceuticals   20.1        Maridive & oil services   0.9        Suez Canal Bank   3.75        Nile Pharmaceuticals   15.81        The Arab Dairy Products Co. AR   73.85        National Housing for Professio   14.39        El Ahli Investment and Develop   4.87        Egyptian Saudi Finance Bank   10.79        Ismailia National Food Industr   5.16        National Societe Generale Bank   25.52        Acrow Misr   19.16        Alexandria Mineral Oils Compan   63.63        Paper Middle East (Simo)   5.59        Egypt Aluminum   12.31        Giza General Contracting   13.12        Middle Egypt Flour Mills   5.82        Extracted Oils   0.6        Assiut Islamic Trading   4.56        Engineering Industries (ICON)   3.95        North Cairo Mills   15.3        Arab Pharmaceuticals   11.88        Grand Capital   5.38        El Ahram Co. For Printing And    10.68        Minapharm Pharmaceuticals   25.49        El Arabia Engineering Industri   13.52        El Nasr For Manufacturing Agri   9.71        Naeem portfolio and fund Manag   1.7        Faisal Islamic Bank of Egypt -   6.76        Natural Gas & Mining Project (   68.26        Housing & Development Bank   13.95        East Delta Flour Mills   31.5        Orascom Development Holding (A   3.22        Memphis Pharmaceuticals   11.12        Abou Kir Fertilizers   134.23        Delta Insurance   5        Cairo Investment & Real Estate   12.18        Cairo Oils & Soap   12.98        Egyptian Arabian (cmar) Securi   0.36        Egyptian Real Estate Group Bea   15.56        Alexandria Containers and good   85.51        Upper Egypt Flour Mills   45.78        Development & Engineering Cons   9.94        Sinai Cement   15.18        Medical Union Pharmaceuticals   28.01        Torah Cement   24.2        Alexandria New Medical Center   46.55        Export Development Bank of Egy   5.04        Egyptian Company for Mobile Se   92.02        Middle & West Delta Flour Mill   32.7        El Kahera El Watania Investmen   4.18        Mansourah Poultry   12.41        Delta Sugar   11.04        Misr Beni Suef Cement   41.21        Egyptian Satellites (NileSat)   6.14        Cairo Educational Services   17.75        Lecico Egypt   7.55        Sharm Dreams Co. for Tourism I   5.3        General Silos & Storage   10.77        Al Moasher for Programming and   0.66        UTOPIA   5.28        Arab Ceramics (Aracemco)   25.4        Barbary Investment Group ( BIG   0.98        

The Watch - forex news

Amwal Al Ghad English - 2018-01-30 06:08:45
Dollar prices traded above a recent three-year low against a basket of major currencies on Tuesday, having drawn some support from a rise in U.S. bond yields as traders awaited a U.S. Federal Reserve policy meeting for fresh catalysts. The dollar edged up 0.1 percent against a basket of six major currencies to 89.392, having pulled up from a low of around 88.43 set last week, its weakest level since December 2014. Against the yen, the dollar eased 0.1 percent to 108.87 yen, giving back some of the gains made on Monday, when it rose 0.3 percent and pulled away Friday's 108.28 yen, a level not seen since Sept. 11. On Monday, the U.S. 10-year Treasury yield reached a peak of 2.727 percent, the highest since April 2014, bolstering the dollar's yield attraction. The rise in U.S. bond yields helped spur short-covering in the dollar, said Stephen Innes, head of trading in Asia-Pacific for Oanda in Singapore. "I think that spooked a lot of the (traders with) short dollar positions," Innes said. While the rise in U.S. debt yields might stem from concerns over the possibility of eventual increases in bond issuance, there may also be some caution ahead of the Fed meeting starting later on Tuesday, he added. The euro held steady at $1.2375, staying well below Thursday's three-year peak of $1.2538. Later on Tuesday, market participants will also turn their focus to U.S. President Donald Trump's State of the Union speech. Trump said on Monday he will address his proposed immigration overhaul in his speech as well as his efforts to lower trade barriers around the world for American exports. The president will also outline his much-anticipated infrastructure plan in his speech. The Fed is widely expected to keep interest rates unchanged at its two-day policy meeting that starts on Tuesday. Investors, however, will be focusing on the central bank's assessment of the economy and inflation for hints on the monetary policy outlook. More»
Amwal Al Ghad English - 2018-01-29 08:08:31
Oil prices held firm on Monday, supported by strong demand, a weak dollar and ongoing supply cuts lead by OPEC and Russia, although soaring U.S. output means many analysts expect crude prices to fall later in the year. U.S. West Texas Intermediate (WTI) crude futures were at $66.34 a barrel at 0144 GMT, up 20 cents, or 0.3 percent, from their last settlement. Brent crude futures were at $70.49 per barrel, 3 cents below their last settlement. Oil markets have been propped up by supply restraint lead by the Organisation of the Petroleum Exporting Countries (OPEC) and Russia, which started in January last year and are scheduled to last through 2018. This supply restraint, coupled with oil demand growth, has contributed to a near 60-percent rise in crude prices since mid-2017. Traders said oil has also been supported by a weakening dollar, which has lost over 3 percent in value against a basket of leading currencies since the start of this year and is down by almost 13 percent since January 2017. "Loose fiscal policy in the U.S., a recovery in growth in Europe and an acceleration in EM (emerging market) growth have all combined to push the dollar lower and oil prices higher," Bank of America Merrill Lynch said in a note. U.S. bank JP Morgan said it had increased its 2018 average price forecast by $10 per barrel to $70 per barrel for Brent and by $10.70 per barrel for WTI to $65.63. "We expect Brent to touch close to $78 per barrel towards end of Q1 2018 or early Q2 2018," it added. JP Morgan said the increase was largely due to OPEC withholding supplies, but added it expected prices to fall towards the end of the year as markets become "flush with oil from (U.S.) shale and other unconventional oils." U.S. crude production has grown by over 17 percent since mid-2016 to 9.88 million barrels per day (bpd) in mid-January. Output is expected to break through 10 million bpd soon. U.S. energy companies added 12 oil rigs drilling for new production last week, taking the total to 759, General Electric Baker Hughes energy services firm said on Friday. U.S. production is already on par with top exporter and OPEC kingpin Saudi Arabia. Only Russia produces more, averaging 10.98 million bpd in 2017. More»
Amwal Al Ghad English - 2018-01-29 08:03:30
Gold prices eased on Monday as the U.S. dollar gained some lost ground and continued gains in equities weighed on the bullion. However, the yellow metal hovered near a 17-month high hit last week as the greenback hit a three-year low after U.S. Treasury secretary Steven Mnuchin backed a weaker currency. Spot gold was down 0.1 percent at $1,348.10 per ounce, as of 0525 GMT. U.S. gold futures for February delivery slipped 0.4 percent to $1,346.50 per ounce. The U.S. dollar is trying to climb back up and that is weighing on gold currently, according to Ronald Leung, chief dealer at Lee Cheong Gold Dealers in Hong Kong. "There is a lot of dollar-related buying and selling in the gold market right now." The dollar crawled up from lows but struggled to pull ahead from six straight weeks of losses on its evaporating yield advantage and doubts about Washington's commitment to a strong currency. A stronger dollar makes bullion more expensive for holders of other currencies. Earlier in the session, the dollar index against a basket of six major currencies rose 0.2 percent to 89.215, extending its rebound from 88.429, a three-year nadir set on Thursday. Meanwhile, Asian shares extended their bull run amid upbeat corporate earnings and strong global economic growth. "However, gold's weakness due to a stronger dollar and equity markets could be temporary," said Hareesh V, head of commodity research, Geojit Financial Services. "Gold will touch the $1,400-an-ounce level again as long as it doesn't break the $1,260 mark." The yellow metal had dropped below the $1,400-an-ounce level in Sept. 2013 and has not crossed above the level since. "The recent strength in equity markets has been keeping gold prices from going higher. When equities start to come down, gold will definitely be the first gainer," Hareesh added. "So, technically, we see a rally, but it has to break the $1,400 mark first - it's a very critical level." Spot gold may drop to $1,335 per ounce, as a support at $1,347 may not hold, according to Reuters technical analyst Wang Tao. In other precious metals, silver remained unchanged at $17.39 per ounce. It rose about 2.3 percent last week, its biggest weekly gain for the year, so far. Platinum gained 0.1 percent to $1,010.80 per ounce, after dipping 0.3 percent last week in its first weekly decline in seven. Palladium declined 0.3 percent to $1,088.47 per ounce. The metal registered its second weekly loss last week, dropping about 1.2 percent. More»
Amwal Al Ghad English - 2018-01-29 07:59:07
The dollar crawled up from lows on Monday but struggled to pull ahead from six straight weeks of losses on its evaporating yield advantage and doubts about Washington's commitment to a strong currency. The dollar index against a basket of six major currencies rose 0.2 percent to 89.215, extending its rebound from 88.429, a three-year nadir set on Thursday. The currency was marginally helped by U.S. GDP data on Friday, which showed strong domestic consumption and capital spending even though the headline figure was weaker than expected due to a rise in imports. Yet traders expect more headwinds for the dollar, which has been pummeled by renewed worries that President Donald Trump may use currency policy as a tool to press other countries to get better "deals" on trade. "I don't see any changes in the dollar's larger downtrend. But given that U.S. GDP figures showed strong consumption and U.S. bond yields are rising, it's hard to expect a rapid fall in the dollar against the yen," said Kazushige Kaida, head of foreign exchange at State Street Bank in Tokyo. Treasury Secretary Steven Mnuchin gave U.S. currency bears a major boost last week with a tacit endorsement of a weak dollar. While Trump tried to row back from those comments, the damage had already been done and the dollar's downturn since November showed little sign of abating. The greenback is also losing its relative yield attraction for investors. Short-term interest rates are expected to rise in other countries as the European Central Bank and many others start to scale back their easy monetary policy. U.S. equities have one of the most expensive valuations in the world, prompting investors to look for better bargains elsewhere. Against the yen, the dollar eked out 0.1 percent gain to trade at 108.72 yen, after hitting a low of 108.28 yen on Friday, its lowest level since mid-September. Comments from Bank of Japan Governor Haruhiko Kuroda in Davos on Friday that the central bank is finally close to the inflation target sparked expectation of an exit from its massive stimulus. The yen later pared gains after a BOJ spokesman said Kuroda was merely repeating the central bank's official view. Yet, it showed how sensitive the market is to any slightest hint that the BOJ is on the cusp of unwinding its stimulus. "Many foreign players are now betting on a BOJ policy change. The dollar/yen has no major support if it falls below its September low of 107.32. A break of that level probably means a shift to new trading range," said Yukio Ishizuki, senior strategist at Daiwa Securities. The euro traded at $1.2400, down 0.2 percent and off its three- year peak of $1.2538 touched on Thursday. Its failure over the past couple of days to stay above $1.25 is seen by sometraders as a sign of fatigue in its six-week old rally. Data from U.S. financial watchdog Commodity Futures Trading Commission showed speculators' net long position in the euro/dollar futures traded in Chicago rose to a record high, suggesting that profit-taking could be on the cards. The Australian dollar held firm at $0.8109 after hitting a 20-month peak of $0.8136 on Friday. The Chinese yuan gained 0.2 percent to 6.3157 per dollar, near Thursday's 6.2968, which was its strongest since August 2015, when Beijing effectively devalued the yuan suddenly. The yuan is on course for its biggest monthly gain in January, seen by traders as Beijing's counter-move to deflect any criticisms that China is gaining unfair trade advantage with a cheaper currency. More»
Amwal Al Ghad English - 2018-01-27 06:58:42
Gold prices rose on Friday, climbing back towards the previous session's 17-month peak as suggestions that senior U.S. officials may support a weaker dollar knocked the currency lower. The dollar slid 0.4 percent against the euro on Friday as comments in favor of a weaker U.S currency by Treasury Secretary Steven Mnuchin, though later somewhat contradicted by U.S. President Donald Trump, led investors to suspect a protracted decline in the greenback may be likely. Spot gold was 0.39 percent higher at $1,352.91 an ounce at 1 p.m. EST, up 1.5 percent so far this week. The metal hit its highest since August 2016 on Thursday at $1,366.07. U.S. gold futures for February delivery were down 0.81 percent at $1,351.10 an ounce. "Once again it's all about the dollar," Mitsubishi analyst Jonathan Butler said, adding: "Gold is now pushing against the highs of mid-2016 and threatening to break out to levels not seen since 2013, but it is looking overstretched on several technical indicators and there will probably be a degree of short-term profit taking." "However our medium-term outlook remains constructive on gold and we could well see gold at $1,400 this year if the dollar and real rate environment remains favorable."Dollar weakness tends to benefit assets priced in the U.S. unit, which become more affordable for holders of other currencies, while ultra-low interest rates cut the opportunity cost of holding non-yielding bullion. World stocks were set for their tenth straight week of gains on Friday, having rallied over the past year on the back of a synchronized uptick in global economic growth in a boon to corporate profits and stock valuations. Gold could benefit if that scorching run cools, GFMS analysts at Thomson Reuters said, predicting volatility in equities and concerns over global politics could lead to a spike in gold prices above $1,500 an ounce this year. It was this week's best performing precious metal, climbing 2.4 percent from Friday's close. "The U.S. dollar remains in the driving seat of the metal markets, causing a lot of volatility for silver," Julius Baer said in a note. "We remain neutral but lift our twelve-month price target to $17.50 per ounce due to signs of improving industrial demand." Among other precious metals, silver was up 0.66 percent at $17.41, having touched its highest in more than four months at $17.69 on Thursday. Platinum was up 0.28 percent at $1,013.30, while palladium fell 0.93 percent at $1,086. After hitting record highs early this year, the metal was on track for its second weekly loss, dropping nearly 1 percent so far this week. More»
Amwal Al Ghad English - 2018-01-27 06:55:20
Oil prices were firmer on Friday after hitting fresh three-year highs in the previous session, as weakness in the dollar continued to underpin prices with crude on track for a weekly gain. U.S. West Texas Intermediate (WTI) crude futures ended Friday's trade up 63 cents, or 1 percent, at $66.14 a barrel, the best settle since December 4, 2014. On Thursday, they reached their highest intraday level since December 2014, at $66.66 per barrel. Brent crude futures rose 29 cents to $70.71 per barrel at 2:21 p.m. ET. On Thursday, the contract climbed to as high as $71.28 per barrel, also its highest since December 2014. "One has to question if this rally is sustainable. Downside protection is going to be warranted," said Brian LaRose, technical analyst at United-ICAP. Both contracts posted weekly gains after support from a weakening dollar, which on Friday hit new three-year lows against a basket of other leading currencies. "This inverse dollar relationship with crude can be nebulous at times, but we've reached a point where the impact will be felt in the form of higher crude prices," said John Kilduff, partner at Again Capital in New York. As oil is traded in dollars, swings in the greenback can impact oil demand as they affect the price of fuel purchases for countries using other currencies. Still, crude prices were capped by seasonally weakening demand. Georgi Slavov, head of research at commodities brokerage Marex Spectron, said despite a generally healthy outlook, there were short-term oil demand headwinds due to the coming end of winter in the northern hemisphere. Many refiners shut down after winter for maintenance, resulting in lower orders for crude, their most important feedstock. "Demand is starting to weaken as ... refining capacity was taken out of the market," Slavov said. This is reflecting in oil inventories. U.S. bank Morgan Stanley noted that global oil stocks built up overall in the week ending January 19.On the supply side, U.S. oil production is expected to hit 10 million bpd soon, putting it on a par with top exporter Saudi Arabia. Output has grown by more than 17 percent since mid-2016. Only Russia produces more, averaging 10.98 million bpd in 2017. Rising U.S. output threatens to undermine the supply restraint led by the Organisation of the Petroleum Exporting Countries (OPEC) and Russia, aimed at propping up prices. The cuts, coupled with demand growth, have contributed to a near 60 percent rise in oil prices since mid-2017 as excess crude inventories have been drawn down. The number of oil rigs operating in U.S. oil fields rose by 12 to 759, according to a closely watching count by Baker Hughes, an early indicator of future output. That marked the biggest weekly increase in the rig count since March. Last week drillers cut five oil rigs. More»
Amwal Al Ghad English - 2018-01-27 06:52:15
Dollar prices remained weak against a basket of currencies on Friday, bruised by comments by senior U.S. officials this week backing a weak dollar and after data showed U.S. economic growth unexpectedly slowed in the fourth quarter. The dollar index, which measures the greenback against a basket of six major currencies, was down 0.38 percent at 89.05 and on track for a weekly fall of 1.7 percent, its worst performance since May. President Donald Trump's comments on Thursday that he wanted a "strong dollar," a day after Treasury Secretary Steven Mnuchin said a weaker greenback would help U.S. trade balances in the short term, failed to put a lid on volatility and keep dollar bears in check. The euro was up 0.24 percent against the greenback at $1.2425 after hitting a more than three-year high of $1.2536 on Thursday. "$1.25 in euro-dollar is a critical level and its got a lot of sticker shock associated with it," said Greg Anderson, global head of FX strategy at BMO Capital Markets. "There were probably a lot of options barriers and lots of stops up there that people would love to take out. You would expect to see an acceleration in volatility," he said. "We did have those comments, and it added to the drama," Anderson said. The market was likely to take a breather now but the underlying trend for a gradually weakening dollar remained intact, Anderson said. UBS Wealth Management upgraded its six-month forecasts for the euro on Friday to $1.28, from $1.22. The dollar found little support after data showed U.S. fourth-quarter gross domestic product increased at a 2.6 percent annual rate, held back by a modest pace of inventory accumulation. Economists polled by Reuters had forecast a 3 percent increase. "Today's U.S. growth print may prompt some modest soul-searching amongst interest rate bulls but does little to change the fact that the economy has considerable momentum behind it," Karl Schamotta, director of global product and market strategy at Cambridge Global Payments, said in a note. The dollar slipped to a session low against the Japanese yen after Bank of Japan Governor Haruhiko Kuroda said the central bank expects the economy to continue growing at a moderate pace and inflationary expectations are picking up slightly. The pound rose after Britain's economy unexpectedly picked up speed in the last three months of 2017, adding to the view that the hit from the Brexit vote was not as bad as expected. More»
Amwal Al Ghad English - 2018-01-25 07:00:15
Gold prices on Thursday edged to their highest since August, 2016, buoyed as the U.S. dollar hit three-year lows after comments by U.S. Treasury secretary Steven Mnuchin that he welcomed a weaker currency. Spot gold had risen 0.2 percent to $1,361.10 per ounce by 0258 GMT, after hitting its highest since August 5, 2016 at $1,361.87. U.S. gold futures were up 0.3 percent at $1,360.60 per ounce. The dollar slumped after Mnuchin told the World Economic Forum in Davos on Wednesday that "obviously a weaker dollar is good for us as it relates to trade and opportunities". His comments were seen by markets as a departure from traditional U.S. currency policy. "Investors were more than willing to pay hefty insurance premia as a hedge against the inflationary impacts from a hapless dollar," said Stephen Innes, APAC head of trading at OANDA. "With traders' base case scenario to sell the dollar at all costs, gold prices should remain well supported on dips and could be poised to move even higher on the next U.S. dollar wobble." The dollar index, which measures the greenback against a basket of currencies, was down 0.2 percent, hitting its weakest since December, 2014 at 89.053 on Thursday. "We suspect the greenback could move lower still ... Conversely, gold's charts look increasingly constructive and could likely push higher on technicals alone," said INTL FCStone analyst Edward Meir. The immediate focus was on the European Central Bank's policy setting meeting later in the day as markets look for any signs it is worried about the appreciating euro. The euro zone economy may be roaring ahead but a rapidly strengthening euro may see ECB President Mario Draghi pour cold water on the view the bank is speeding towards an interest rate hike. "The ECB meeting on Thursday will be pivotal (for gold), as it could spark the euro (and gold) higher, especially if the central bank signals a policy shift in its wording," Meir said. A stronger euro potentially boosts demand for gold by making dollar-priced bullion cheaper for European investors. Spot gold is expected to gain more to $1,381 per ounce, as it has broken a resistance at $1,354, said Reuters technical analyst Wang Tao. Among other precious metals, spot silver was down 0.2 percent at $17.50, after touching more than four-month highs at $17.61 in the previous session. Platinum rose 0.3 percent to $1,015.24, after hitting its highest since Sept. 8 at $1,021.20 the session before. Palladium advanced 0.1 percent to $1,111.50. More»
Amwal Al Ghad English - 2018-01-25 06:56:25
Brent oil prices hit $71 per barrel on Thursday for the first time since 2014 as the dollar continued to weaken and crude inventories in the United States fell for a 10th straight week amid ongoing supply cutbacks by OPEC and top producer Russia. Brent crude futures, the international benchmark for oil prices, hit a session high of $71.05 per barrel - the highest since early December 2014 - before dipping back to $70.99 by 0440 GMT. That was still up 46 cents, or 0.7 percent from the last close. U.S. West Texas Intermediate (WTI) crude futures climbed to $66.35 per barrel, also the highest level since early December 2014, before dipping to $66.26. That was still up 1 percent from the last settlement. Both crude benchmarks have risen by almost 60 percent since the middle of last year. More»
Amwal Al Ghad English - 2018-01-25 06:52:40
The dollar skidded to a three-year low against its peers on Thursday after caving on comments by U.S. Treasury Secretary Steven Mnuchin that he welcomed a weaker currency, while the euro was firm ahead of the European Central Bank's policy decision. The single currency extended its overnight rally to $1.2425, up 0.15 percent and going as high as $1.2428, its strongest since December 2014. The dollar slumped after Mnuchin told the World Economic Forum in Davos on Wednesday that "obviously a weaker dollar is good for us as it relates to trade and opportunities." His comments were seen by markets as a departure from traditional U.S. currency policy. U.S. treasury secretaries have been repeating that the strong dollar is in the national interest since the late 1990s, when Robert Rubin held the job in the Clinton administration. The greenback had already been on the defensive on trade protectionism worries fanned by U.S. President Donald Trump's decision to impose steep import tariffs on washing machines and solar panels earlier in the week. More»