Yellen Says She Won’t Seek Weaker Dollar, Wants Market-Set Rates
- Treasury pick doesn’t explicitly reference ‘strong dollar’
- ‘Strong dollar’ may be more a phrase than actual policy
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Janet Yellen said the U.S. won’t seek a weaker exchange rate to gain advantage over other nations, and said if confirmed as Treasury secretary that she will work against any moves by other countries to pursue such a strategy.
“The United States does not seek a weaker currency to gain competitive advantage and we should oppose attempts by other countries to do so,” Yellen said Tuesday at the Senate Finance Committee’s confirmation hearing for her coming formal nomination as Treasury chief.