January 24, 2018 / 8:21 PM / a year ago

White House says dollar very stable, believes in free-floating currency

FILE PHOTO: A U.S. Dollar note is seen in this June 22, 2017 illustration photo. REUTERS/Thomas White/Illustration/File Photo

WASHINGTON (Reuters) - The U.S. dollar is very stable and President Donald Trump believes in a free-floating currency, the White House said on Wednesday after a senior U.S. official welcomed a weaker dollar.

“We believe in a free-floating currency. The president has always believed in that,” White House spokeswoman Sarah Sanders told reporters at a daily briefing. “We have ... a very stable dollar, in large part due to how well the U.S. economy is doing right now.”

In remarks seen by markets as a departure from traditional U.S. currency policy, U.S. Treasury Secretary Steven Mnuchin said at the World Economic Forum in Davos, Switzerland, that a weaker dollar was good for the United States.

Reporting by Roberta Rampton; Writing by Mohammad Zargham; Editing by Tim Ahmann

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below