The dollar gyrated widely closing only marginally higher after D.Trump backpedaled on Treasury Secretary Mnuchin’s statement on Wesnesday. ECB President M. Draghi handled Mnuchin’s “benign neglect” comments with his typical Italian style, saying that recent FX volatility (read dollar weakness) was “in part due to exogenous reasons that have to do with communication. Not by the ECB, but by someone else. This someone else’s communication doesn’t comply with the agreed terms of references.”, M.Draghi said. D.Trump also outlined his plans for peace in the Middle East committing to an accelerating transfer of the US embassy over to Jerusalem.
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