>> It's the type of stepped up security you expect to see, even in an already fortified venue like the World Economic Forum. As the US President arrived Thursday for a two day visit. But Trump's arrival was overshadowed by confusion about the White House. And whether it was standing behind America's long-held, strong dollar policy.
I'm Cal Wiggins at the World Economic Forum. The US dollar slumping near three year lows, even though US Treasury Secretary Steve Mnuchin tried to undo Thursday, the damage that he did on Wednesday. He told attendees today that he is not concerned about short term movements in the US dollar.
This, of course, follows his comments a day earlier in which he said that a weaker dollar was beneficial to the US economy. But he reminded listeners that that doesn't mean that the US is backing off a strong dollar policy. But the dollar has been nothing but weak, down 10% since Trump took over.
And this could be problematic for his America First policy. While a weaker dollar will make US exports cheaper, it also makes investing in America less attractive compared to richer valued currencies. Theresa May's UK is one of those countries competing for that global capital. She spent most of Thursday's address in Davos highlighting the benefits of technology but she did have a warning to global citizens.
>> For every country must support and shape the rules for free and fair trade and investment. We cannot pull in different directions.>> A sentiment she might share in her sit down with President Trump as the two try and hit the refresh button on the so-called special relationship shared by their countries.