Mnuchin Defends Weaker Dollar Comments as ‘Clear,’ ‘Consistent’
- Trump administration believes in ‘free currencies,’ he says
- Dollar spot index little changed on secretary’s latest remarks
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Treasury Secretary Steven Mnuchin said he isn’t concerned about short-term fluctuations in the dollar and that there are economic pros and cons to where the exchange rate now is, a day after he suggested a weaker U.S. currency would help trade.
“There are benefits of where the dollar is and there are costs of where the dollar is,” Mnuchin said during a panel discussion at the World Economic Forum in Davos, Switzerland. “It’s not a shift in my position on the dollar at all. It is perhaps slightly different from previous Treasury secretaries. We do support free and floating currencies reflective of the market.”