The accelerated slide experienced by the dollar yesterday after the US treasury secretary spoke of the trade benefits of a weaker greenback was stopped in its tracks last night when President Trump said Mnuchin's comments had been "misinterpreted" and declared that the dollar would strengthen.

• Trump says Mnuchin was misinterpreted, this puts a floor under the dollar
• GBP brushed back after EURGBP had a look at the low of its range
• Tone of Trump's Davos speech eyed – especially as regards China and trade
• Commodities have their best week so far this year because of the weak dollar
• Corporate earnings are starting to miss expectations: EBITDA is down q/q