U.S. Treasury's Lew backs strong dollar, points to improved economy

Section:

By Jason Lange
Reuters
Friday, January 23, 2015

U.S. Treasury Secretary Jack Lew said today a strong U.S. dollar was good for America and that the robust performance of the U.S. economy was driving movements in currency markets.

His comments supported a long-standing policy of the Treasury that strength in the currency was positive if it reflected economic fundamentals rather than efforts by foreign governments to gain an unfair edge in global trade.

The dollar has surged about 20 percent against its major trading partners since early May. Lew suggested that fundamentals were a factor in its rise.

"Other parts of the globe are not doing as well. That leads to some movement in currencies," Lew said in an interview with U.S. network CNBC from Davos, Switzerland.

"The strong dollar, as all of my predecessors have joined me in saying, is a good thing. It's good for America." ...

... For the remainder of the report:

http://www.reuters.com/article/2015/01/23/usa-economy-jacklew-idUSL1N0V2...



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