US Treasury secretary Steven Mnuchin speaks on a panel in Davos - 25 January 2018
- Not concerned about where the dollar is in the short-term
- Long-term fundamentally believes in strength of the dollar
- Supports free trading in currency markets
- Does not support people who try to fix currencies
- Lower dollar has benefits in the short-term
- Lower dollar is beneficial for US trade balance
- We want more trade, but it must be reciprocal and fair
- US has the most open trade and investment market in the world
- Wants to increase exports to China
Yep, he's back at it again. Well, he's done enough already to move the market it seems. It's pretty much the same old comments from earlier today and yesterday.
The US dollar isn't too phased now by these comments, but is still the weakest major currency on the day as the euro retraced its losses.