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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