Dollar skids to 3-year low against major peers

London

THE dollar slid to a three-year low against a basket of major peers on Wednesday after the US Treasury Secretary said he welcomed weakness in the currency, as investors worried about President Donald Trump's protectionist agenda.

In a break with the traditional strong dollar mantra, Treasury Secretary Steven Mnuchin said the weaker dollar was positive for American trade. He was speaking at the World Economic Forum in Davos on the eve of Mr Trump's arrival at the Swiss resort.