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Mnuchin's approach suggests that the "strong dollar policy" is a thing of the past
Jul 25,2019 08:21CST
translation
Source:SMM
Us Treasury Secretary Nutsin said that if Trump is re-elected, he will continue to serve as Treasury secretary. Trump believes inflation is very low. In the long run, a strong dollar is important and does not advocate a weaker dollar in the near future.
The content below was translated by Tencent automatically for reference.

Us Treasury Secretary Nutsin said that if Trump is re-elected, he will continue to serve as Treasury secretary. Trump believes inflation is very low. In the long run, a strong dollar is important and does not advocate a weaker dollar in the near future.

Shaun Osborne, chief foreign exchange strategist at Fengye Bank of Canada, said in an email that US Treasury Secretary Mnuchin's rejection of his former Treasury Secretary's language on the dollar exchange rate may reflect a policy shift.

So far, Mnuchin has not said that a strong dollar is in the best interests of the United States, a phrase used by Robert Rubin, the Treasury Secretary, in the 1990s.

"it is his right as finance minister to set exchange rate policy," but Mr Mnuchin's comments will support the impression that the government has abandoned the slogan of a "strong dollar" that finance ministers have respected since the mid-1990s.

Osborne said the phrase "became a typical way for successive governments to outline foreign exchange policy" and was "more or less enthusiastically adopted" by subsequent finance ministers.

"if he doesn't advocate a weak dollar now and thinks a strong dollar is important in the long run, I think my question is: why doesn't he stick to the traditional saying of a strong dollar?" Osborne said.

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