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If Donald Trump's speech at the Republican National Convention was billed as "midnight in America" - a pessimistic view of the current conditions in the US - then his message on inauguration day was that it's always darkest before the dawn. The nation was in peril, but America was about to be great again. In an address that was tonally consistent with Candidate Trump's campaign rhetoric, the president railed against a Washington elite that flourished while the American people suffered. "While they celebrated in the nation's capital, there was little to celebrate for struggling families all across our land," he said He described a nation blighted with rusted-out factories, families "trapped in poverty", a public education system that deprived "young and beautiful" children of all knowledge and cities wracked by violent crime. "This American carnage stops right here and stops right now," he said. Early reports

The UK will need a transition period to help businesses adjust after Brexit, the chancellor and the international trade secretary have said. In a joint  Sunday Telegraph article , Philip Hammond and Liam Fox stressed any deal would not be indefinite or a "back door" to staying in the EU. Their comments are being seen as an attempt to show unity between rival sides in Theresa May's cabinet. The Liberal Democrats said Mr Hammond had "been brought back in line". "What this is about is getting Philip Hammond back on track with a hard Brexit program," Tom Brake, the party's foreign affairs spokesman, said. "What we don't know from this letter is exactly how this is going to work. It's also not clear how long the transition period is going to be." At-a-glance guide to Brexit negotiations Brexit: What is at stake in EU-UK talks? Hammond: Brexit talks must prioritise jobs Fox holds firm on opposing free movement The le

The US dollar, long a symbol of American economic might, has fallen steadily this year. The value of the dollar index, which tracks the dollar against six major global currencies, has fallen about 10% since January. It pushed lower on Friday, even as demand for other safe-haven assets - typically a category that includes the US dollar - rose amid sabre-rattling between the US and North Korea. The dollar, which surged in 2014 as the US economy gained strength, is hardly in danger territory. The index is running just a bit lower than it was a year ago. But key US economic data was weaker last year. So what's behind this year's decline? Things are looking up in Europe. In some ways, this is a good news story, driven by a better economy in Europe. The euro lost ground against the dollar in 2014, when central bankers adopted a stimulus program, while the US started to move away from stimulus policies. Now, as the Eurozone economy improves and the European Central B