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Mnuchin 'Not Concerned' About Short-term Value of Dollar

by Associated Press

   DAVOS, SWITZERLAND --

   U.S. Treasury Secretary Steven Mnuchin says the U.S is "not concerned"
   about the value of the dollar in the short-term.

   At a press briefing at the World Economic Forum on Thursday, Mnuchin
   said the short-term value of the dollar is dependent on many factors in
   what is a very liquid market.

   In the longer-term, he said, the U.S. currency's value will be
   determined by the underlying strength of the U.S. economy.

   On Wednesday, Mnuchin sparked a big dollar sell-off when he said the
   recent fall in the value of the dollar was "good" for trade. The euro,
   for example, spiked to a three-year high.

   Mnuchin insisted Thursday that his comment on the dollar was "balanced
   and consistent."