U.S. Treasury Mnuchin: "Excessively strong" USD may be negative in the short term
|The U.S. Treasury Secretary nominee Steven Mnuchin was on the wires last minutes, via Reuters, highlighting that an excessive USD strength could be "negative" in the short-term. Also, he made some remarks about China currency's stance.
Key headlines (via Reuters):
- Will address issue of currency manipulation as an unfair trade practice -document showing written answers to senate finance committee questions
- Treasury will work with IMF, G7, G20, major trading partners on currency issues; says IMF does not appear to have prevented nations from manipulating currencies
- Asked if China has stopped intervening in currency markets to devalue its currency, replied: "if confirmed I intend to review the issue of Chinese currency manipulation"
- Will recommend changes to Treasury currency evaluation procedures if needed
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