Dollar Rises as Geithner Suggests No Need for Further Weakness
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The dollar strengthened against most of its major counterparts after reported comments by U.S. Treasury Secretary Timothy F. Geithner suggested he sees no need for further weakness in the currency.
The greenback gained after the Wall Street Journal cited Geithner as saying major currencies are “in alignment” and he’ll work to persuade leaders at Group of 20 meetings that the U.S. is not trying to weaken the dollar. Australia’s dollar pared yesterday’s surge after Chinese data added to the case for Asia’s biggest economy to take more tightening measures.