Mnuchin ‘Not Concerned’ About Short-term Value of Dollar

Mnuchin ‘Not Concerned’ About Short-term Value of Dollar
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.”