Treasury nominee Mnuchin says long-term dollar strength important

WASHINGTON (Reuters) – U.S. Treasury Secretary nominee Steven Mnuchin said on Thursday it was vital to maintain a great dollar over time, adding that President-elect Donald Trump’s recent comments that your currency was too strong were focussed on short-term impacts.

“In case the president-elect made a leave comments on the U.S. currency, it wasn’t intended as a long-term comment,” Mnuchin said with a confirmation hearing before the Senate Finance Committee.

Mnuchin, a Wall Street veteran, added that Trump’s comments that dollar was too strong were focussed on short-term market factors that had pushed the greenback higher, hurting U.S. exports.

“The long-term strength over a long is important” for your dollar, Mnuchin said.

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