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World Economic Forum: US President Donald Trump talks up dollar in Davos

Trump said he believed Mnuchin's comments were taken out of context, the United States was strong economically and in other ways, and that nobody should be talking about the dollar

Reuters 

Donald Trump in WEF
Donald Trump in WEF (Photo: Reuters)

US President Donald Trump said on Thursday he ultimately wants the dollar to be strong, lifting the greenback and contradicting comments made by Treasury Secretary Steven Mnuchin one day earlier. “The dollar is going to get stronger and stronger and ultimately I want to see a strong dollar,” Trump said in an interview with CNBC, adding that Mnuchin’s comments had been misinterpreted. Trump said he believed Mnuchin’s comments were taken out of context, the United States was strong economically and in other ways, and that nobody should be talking about the dollar. “It should be what it is, it should also be based on the strength of the country - we are doing so well,” Trump said in the interview after he arrived at the World Economic Forum in Davos, Switzerland. A day after sending the dollar reeling with comments supportive of a weak US currency, Mnuchin played down his comments on Wednesday that a weaker dollar was “good for us as it relates to trade and opportunities,” saying they had been “balanced and consistent”. The remarks were seen by markets as departing from traditional US currency policy and elicited thinly veiled warnings from European finance ministers as Trump arrived in Davos to promote his “America First” agenda.

First Published: Sat, January 27 2018. 01:44 IST
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