Mnuchin backs weaker dollar in break with tradition

Financial Times, Jan 24, 2018
by Chris Giles and Michael Hunter

US Treasury secretary Steven Mnuchin has broken with tradition by declaring a weaker dollar is good for American trade in comments that have fuelled market speculation that Washington is seeking to depress the currency to boost the economy.

The dollar came under further pressure following the comments at a news conference on Mr Mnuchin’s arrival at the World Economic Forum in Davos on Wednesday, which represented a shift from previous US administrations where Treasury secretaries have resolutely extolled a strong dollar policy.

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