Currencies: Dollar hits fresh 3-year low after Mnuchin cheers weaker greenback

The dollar suffered a renewed selloff on Wednesday, with a key dollar index deepening its protracted descent to a three-year low after U.S. Treasury Secretary Steven Mnuchin said a weaker greenback is good for trade.

What are currencies doing?

The ICE U.S. Dollar Index DXY, -0.96% , which measures the buck against a basket of six rival currencies, slid 1% to 89.245, breaking below the 90-level for the first time since December 2014.

The broader WSJ U.S. Dollar Index BUXX, +0.05% was down 0.9% at 83.29.

Read:Don’t be so surprised by Mnuchin’s endorsement of a weak dollar

The euro EURUSD, -0.1048% meanwhile rose to $1.2401 from $1.2298 late Tuesday in New York, trading at the highest level in more than three years.

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