Mnuchin says weak dollar is good for U.S.

Steven Mnuchin, United States Secretary of the Treasury, walks through the snow during the annual meeting of the World Economic Forum in Davos, Switzerland, Wednesday, Jan. 24, 2018. (AP Photo/Markus Schreiber)

Steven Mnuchin, United States Secretary of the Treasury, walks through the snow during the annual meeting of the World Economic Forum in Davos, Switzerland, Wednesday, Jan. 24, 2018. (AP Photo/Markus Schreiber)

Treasury Secretary Steven Mnuchin said Wednesday that a weak dollar is good for the U.S., sending the dollar plunging in currency markets. “Obviously a weaker dollar is good for us as it relates to trade and opportunities,” Mnuchin said while attending the World Economic Forum in Davos, Switzerland, where he is to talk with U.S. trade partners and encourage investment from businesses. Mnuchin’s remarks, ahead of President Trump’s arrival in Davos, marked a break with a decades-long U.S. government commitment to a strong dollar. During his 2016 campaign and since, Trump has occasionally said he would like to see the dollar’s value fall so U.S. goods would become cheaper and exports would increase.

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