U.S. Treasury Secretary Jack Lew said a strong U.S. dollar was good for America and that the strength of the U.S. economy relative to other parts of the world was driving movements in currency markets.
"The strong dollar, as all of my predecessors have joined me in saying, is a good thing. It's good for America," Lew told U.S. network CNBC in an interview from Davos, Switzerland.
"If it's the result of a strong economy, it's good for the U.S. It's good for the world," he said. "If there are policies that are unfair, if there are interventions that are designed to gain an unfair advantage, that's a different story."
Lew said the recent strength seen in the U.S. economy was having an impact in currency markets.
"Other parts of the globe are not doing as well. That leads to some movement in currencies," he said.
Lew also refused to criticize other global central banks.
"There's a difference between domestic tools for domestic purposes and what are the unfair practices," he said. "Monetary authorities have to able to make their decisions in an independent way."
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