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Overnight Finance: Trump touts strong dollar after Mnuchin controversy | Trump sees 'good chance' for NAFTA deal ...

Said "obviously a weaker dollar is good for us as it relates to trade and opportunities."

"Longer-term, the strength of the dollar is a reflection of the strength of the U.S. economy and the fact that it is and will continue to be the primary currency in terms of the reserve currency," Mnuchin continued.

Mnuchin's remarks were a break in precedent, since most previous Treasury secretaries have touted a strong dollar. I explain here:  http://bit.ly/2DHEL2M .

 

Consumer bureau delays prepaid card rule until April 2019:  The Consumer Financial Protection Bureau (CFPB) on Thursday delayed its rule on prepaid cards and debit accounts for a year while also announcing changes to the rule.

The CFPB pushed the effective date of the regulation forward to April 1, 2019, a year later than it was originally intended to begin. The bureau also made changes meant to boost compliance with the rule and loosen rules on linking credit cards to prepaid accounts or "virtual wallets.

Kelowna hotel sector reaping rewards from city's robust economy

 

Spanish flair

Thompson Okanagan hotel prospects exuded a warm glow during an overview of markets across Canada at the Western Canadian Lodging Conference in Vancouver last November.

“There hasn’t been a lot of new supply growth in the region, so after more than 10 years of sub-60 occupancy, we’re finally seeing this area breaking through the 60% mark,” said Carrie Russell, managing director of valuation and advisory firm HVS Canada.

Rising domestic traffic drawn by the region’s wineries and recreational offerings, not to mention a robust economy, meant that revenue per available room (RevPAR) rose almost 10% in 2016 and 7.5% in 2017. Russell expects another 5% boost in 2018 as room counts remain virtually unchanged. While a new 120-room Holiday Inn Express opened on Highway 97 north of downtown Kelowna last year, little else will be completed before 2019.

Several projects are in the planning stages, however, such as Westcorp Property Management Inc.’s planned replacement for the Willow Inn, which closed in 2007 and was demolished in 2009. Westcorp bought the property in 2003 and is now seeking Kelowna’s permission to build a 32-storey tower soaring 425 feet above Okanagan Lake.