WASHINGTON ¨C Treasury Secretary nominee Steven Mnuchin told lawmakers the long-term strength of the U.S. dollar is important and said President-elect Donald Trump¡¯s comments that the currency was too high weren¡¯t meant as a longer-run policy.
The dollar¡¯s ¡°long-term strength ¡ª over long periods of time ¡ª is important,¡± Mnuchin said in response to questions at his confirmation hearing Thursday before the Senate Finance Committee in Washington. ¡°The U.S. currency has been the most attractive currency to be in for very, very long periods of time. I think that it¡¯s important and I think you see that now more than ever.¡±
At the same time, he said the greenback is currently ¡°very, very strong, and what you see is people from all over the world wanting to invest in the U.S. currency.¡±
Trump expressed concern about the dollar¡¯s recent appreciation in an interview with the Wall Street Journal this month, saying the currency was ¡°too strong.¡± That prompted speculation that his administration might reverse long-standing tradition in the U.S. to support a strong-dollar policy.
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