January 25, 2018 / 10:52 AM / a year ago

Mnuchin says weaker dollar helps U.S. trade in short term

Steven Mnuchin, U.S. Secretary of the Treasury, attends the World Economic Forum (WEF) annual meeting in Davos, Switzerland January 25, 2018. REUTERS/Denis Balibouse

DAVOS, Switzerland (Reuters) - U.S. Treasury Secretary Steven Mnuchin said on Thursday that a weaker dollar benefited U.S. trade balances in the short term but that he believed in the long-term strength of the currency.

“I think I’ve been quite consistent on the dollar. Previous secretaries have talked up the dollar. What I’ve said is that first of all we support free trade of the currency,” Mnuchin said at the World Economic Forum in Davos, Switzerland.

However, he added that he was happy with the current level. “Where the dollar is is not a concern of mine.”

Reporting by Alessandra Galloni and Soyoung Kim in DAVOS; Exditing by Mark Bendeich

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