Singapore dollar climbs to 3-year high against USD after Mnuchin's remarks

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The found of Bridgewater, the world's largest hedge fund, went on to list a series of effects caused by a weaker dollar and his opinion of those possible changes. Treasuries nudged lower and gold rose.

Mnuchin also told reporters he held "productive" talks with representatives from China about the trade imbalance between China and the U.S. He said President Donald Trump and Chinese officials agreed that trade between the two nations should become more equal. The volatility may spur a reassessment of the global risk-on rally that's stretched valuations across asset classes.

"It's an worldwide agreement, including by the G-7, that currency markets should reflect economic fundamentals and move in a stable manner", Bank of Japan Gov. Haruhiko Kuroda told reporters in Davos, Switzerland, where a meeting of the World Economic Forum ended Friday.

"We see dollar weakness resulting from a combination of factors that include waning monetary accommodation, the prospect of higher policy rates overseas, and investment in foreign markets and assets as economic growth accelerates in the Euro-zone and Japan", said Humberto Garcia, head of Global Asset Allocation for Bank Leumi USA. If you want to buy a USA car, you need dollars.

Prior to Mr Trump's remarks, the euro was trading at a three-year high against the greenback. Bitcoin dropped below $11,000. USA shares were also-rans to the MSCI Asia Pacific Index, which advanced 30 percent; Japan's Nikkei 225, 23.1 percent, and Brazil's Ibovespa Index, 20.9 percent, according to data compiled by Bloomberg.

The U.K. House of Lords is considering Prime Minister Theresa May's Brexit bill this week.

The pan-European FTSEurofirst 300 index .FTEU3 lost 0.60 percent and MSCI's gauge of stocks across the globe.MIWD00000PUS gained 0.13 percent.

Hong Kong's Hang Seng Index dipped 151.31 points or 0.46 per cent to 32,807.38.

The euro rose 0.2% to $1.2427. Nor do they have British pounds or Japanese yen in the bank. But it now expects core consumer prices to grow 0.8 percent in the fiscal year 2017/2018, lower than the previous projection of 1.1 percent.

Canadian government bond prices were higher across a flatter yield curve, with the 10-year rising 16 Canadian cents to yield 2.244 per cent.

The dollar has shed 10% of its value since past year. EUR/USD is down more than 100 pips on the headlines and it's the same thing (or more) right across the board.

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