Steven Mnuchin, the US Treasury Secretary has changed the US Dollar policy and now sees a weaker Dollar as the way to move the US economy forward.
This has prompted investors to bet that the European Central Bank will strike a more cautious tone when it meets later on Thursday on potential rate rises and withdrawal of its bond-buying scheme.
The European currency managed to hit a 3 year high today despite having a problematic weak; the currency managed to hit the $1.25, the last time it managed to climb this level is last December of 2014.
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In addition, all existing 1 GB per day packs will be enhanced to 1.5 GB per day and 1.5 GB per day packs to 2 GB per day. Airtel, on the other hand, offers 1GB daily data, and validity of 84 days, up from 70 days that it used to offer before.
After a routine rate decision for the euro zone's central bank, Draghi spoke at a press conference Thursday, telling reporters that the recent volatility in the exchange rate is a "source of uncertainty".
Draghi's comments echoed those he made in September and which helped weaken the currency at the time.
The interest rates were left unchanged by the European Central Bank, while net monthly asset purchases were maintained at Euro 30 billion until "the end of September 2018, or beyond, if necessary". Rates these days are not set by governments but by global foreign exchange markets where major currencies are bought and sold. "Put simply, Draghi is warning that foreign countries could follow the U.S.in a race to the bottom if the US tries to devalue the dollar". The bank gave little additional hint about whether its 30 billion euros ($36 billion) in monthly bond purchases would run past September.
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The committee would release transcripts of interviews with Trump Jr., Akhmetshin, Kaveladze, Samochornov, and Goldstone. Dianne Feinstein's decision to release the testimony of the Fusion GPS founder has "spooked other potential witnesses".
The ECB chose to keep interest rates in the eurozone on hold, with the focus now on ECB president Mario Draghi's usual press conference following the release of the statement on rates.
By virtually all metrics, the eurozone economy is in rude health.
Credit to businesses grew by 2.9 percent year-on-year last month, adjusting for some purely financial transactions, a drop of 0.2 percentage points compared with the figure for November. Its rate of minus 0.4 percent on deposits it takes from commercial banks was also unchanged.
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But that progress was stopped later in the day as Trump sought to play down the speech by the U.S. treasury secretary by saying that the dollar was bound to get stronger due to the strong economic data. The negative rate is a penalty aimed at pushing banks to lend the money rather than let it pile up risk-free at the ECB.