Mnuchin Praises Strong Dollar, Adds To Currency Confusion

zerohedge.com / by Tyler Durden / Feb 22, 2017 7:23 PM

Following today’s more dovish than most expected minutes, the dollar tumbled and its main carry counterpart, the yen spiked. However, shortly after 4pm, the USDJPY resumed its levitation, a time when the traditional trust bank intervention on behalf of the BOJ was not yet in play. The reason for the updraft in the dollar was the publication of an interview in the WSJ with Treasury Secretary Steven Mnuchin, his first since being sworn in as Treasury Secretary last week, in which he appeared to advocate a “strong dollar”, and said the strong U.S. currency “is a reflection of confidence in the U.S. economy”, adding that its performance compared with the rest of the world and was a “good thing” in the long run.

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Read more ... source: The Bitcoin Channel

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