"If you take the overall stance of the US administration, it´s protectionist and still it´s not clear what kind of dollar the president and the Treasury want", said Vassili Serebriakov, FX strategist at Credit Agricole in NY.
The comments led to an immediate, sharp drop in the value of the dollar in currency markets.
"That agreement [about not targeting the exchange rate], as subtle as you want, has been in place for decades now", Mr Draghi said. But if the economy is already at or near maximum output, stoking demand overseas by lowering the dollar would cause prices to rise drastically.
In the wake of the tough talk on trade, Mnuchin's comments were widely interpreted as a possible green light to let the value of the dollar slide to make U.S. exports cheaper, thereby taking aim at China and other trading partners.
"The weaker dollar narrative remains intact for 2018", he said. "It is perhaps slightly different from previous Treasury secretaries".
The timing was also notable.
That came as Commerce Secretary Wilbur Ross defended this week's stinging USA tariffs on solar panel imports and warned of further retaliation against nations Washington feels have broken the rules, ramping up fears of a possible global trade war.
Mnuchin's comments caused the dollar to nosedive and raised concerns about an impending currency war that would prompt countries to weaken their currencies to make their exports more competitive.
Benchmark U.S. crude rose 63 cents, or 1 percent, to $66.14 a barrel in NY.
The market was likely to take a breather now but the underlying trend for a gradually weakening dollar remained intact, Anderson said.
In contrast, Mr Trump said: "The dollar is going to get stronger and stronger and ultimately I want to see a strong dollar".
The decline of the dollar since early December also coincided with a rapid run up in crude oil prices.
"Everything is just the (U.S.) dollar right now". His message, which he will proclaim in a speech Friday, is that delegates at the World Economic Forum's annual meeting were wrong to doubt his ability to spur the USA economy and stocks. If you want to buy a USA car, you need dollars. It all depends on the size of the rally in the dollar.
The BoJ's Minutes release overnight of last month's monetary policy meeting reiterated their stance that it was appropriate to continue "powerful" monetary easing.
Shares of Intel Corp (INTC.O) jumped more than 10 percent and hit their highest level since October 2000 a day after the company reported quarterly results. The surprise drawdown buoyed oil prices.
Commerzbank forecasts the EUR/USD rate will fall back to 1.16 before the end of March and that it will close the year around 1.12, which implies a near-10% for the single currency in 2018. The dwindling stocks in Cushing helps explain the sudden narrowing of the WTI-Brent discount, which has shrunk to about $4 per barrel, down from more than $7 a few weeks ago.
His speech was mostly met by polite applause, although he drew some jeers and whistles during a question and answer session, when he attacked the news media: "It wasn't until I became a politician that I realised how nasty, how mean, how vicious and how fake the press can be", he said.
PiperJaffray's Craig Johnson sees the metals sector getting a boost from weakness in the US dollar.