Treasury Secretary Janet Yellen said that it’s understandable the dollar has appreciated amid rising US interest rates, and that these gains have posed a concern for some other countries.
“From the standpoint of the administration, we’re committed to a market-determined exchange rate,” Yellen said at a press briefing in Bonn, Germany, on Wednesday. “It’s understandable that the dollar has risen” as higher US interest rates spur capital toward the greenback, she said. She also cited “safe-haven” flows amid highly uncertain times.
