Mario Draghi, President of the European Central Bank (ECB) addresses a press conference following the meeting of the ECB's Governing Council in Frankfurt am Main, western Germany, on January 25, 2018. AFP / Daniel ROLAND
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The euro tore past $1.25 and its highest in three years Thursday, after the European Central Bank showed little more than minor discomfort about the currency's hottest run in nearly four years. Concerns about U.S. protectionism kept the dollar weak after its worst day in six months, but it was the signals – or lack of – from the ECB after it first meeting of 2018 that sent the euro bulls charging again.As well as the euro's $1.25 milestone, sterling had hit a new post Brexit vote high against the dollar of $1.4250 and had also climbed to its highest in six months against the euro before the ECB's shake up.He was choppering into to the Swiss Alpine town a day after U.S. Treasury Secretary Steven Mnuchin departed from traditional U.S. currency policy, saying "obviously a weaker dollar is good for us as it relates to trade and opportunities".Analysts say they cannot remember any U.S. Treasury secretary openly embracing a cheaper dollar, at least in the last two decades or so.The dollar had also slipped to as far as 108.63 yen, its lowest since mid-September, and to its weakest against the Chinese yuan since November 2015 .
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