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Race to devalue a big mistake - U.S. Treasury Sec
February 12, 2015 / 5:57 AM / 3 years ago

Race to devalue a big mistake - U.S. Treasury Sec

MUMBAI, Feb 12 (Reuters) - The United States will “push back very hard” against countries that target weaker exchange rates to gain an unfair trade advantage, Treasury Secretary Jack Lew said on Thursday, reiterating concerns he expressed to the Group of 20 this week.

“It would be a very big mistake for the world to get into a situation where ... there is kind of a race to devalue,” Lew said, according to the transcript of an interview he gave to India’s NDTV Profit financial news channel. (Writing by Douglas Busvine; Editing by Malini Menon)

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