Tags: EU | Davos Forum

US's Mnuchin: 'not Concerned' about Near-term Dollar Value

Thursday, 25 January 2018 03:38 AM

DAVOS, Switzerland (AP) — U.S. Treasury Secretary Steven Mnuchin says the U.S is "not concerned" about the value of the dollar in the short-term.

At a press briefing at the World Economic Forum on Thursday, Mnuchin said the short-term value of the dollar is dependent on many factors in what is a very liquid market.

In the longer-term, he said, the U.S. currency's value will be determined by the underlying strength of the U.S. economy.

On Wednesday, Mnuchin sparked a big dollar sell-off when he said the recent fall in the value of the dollar was "good" for trade. The euro, for example, spiked to a three-year high.

Mnuchin insisted Thursday that his comment on the dollar was "balanced and consistent."

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U.S. Treasury Secretary Steven Mnuchin says the U.S is "not concerned" about the value of the dollar in the short-term.At a press briefing at the World Economic Forum on Thursday, Mnuchin said the short-term value of the dollar is dependent on many factors in what is a very...
EU,Davos Forum
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2018-38-25
Thursday, 25 January 2018 03:38 AM
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