No gap between Trump’s and Mnuchin’s stance on dollar strength, official says in Davos

There is no difference between President Donald Trump’s position on the strength of the U.S. dollar and that of his Treasury Secretary, Steven Mnuchin, a senior administration official told reporters on the sidelines of the Davos forum Friday. “I don’t think there’s any daylight between the President and Secretary Mnuchin,” the official said, according to a Reuters report. Trump, in comments to CNBC on Thursday, said “the dollar is going to get stronger and stronger and ultimately I want to see a strong dollar.” His remarks briefly helped an ailing buck. Earlier this week, Mnuchin said he was not concerned about where the dollar was in the short term and that a weaker dollar was helpful to the U.S. trade position. Those remarks sparked a market reaction that drove the leading dollar index down some 2% to fresh three-year lows. The dollar index was lower again on Friday, setting it on track for a 1.9% weekly slide. That would be its biggest loss in one week since May last year, according to FactSet data.

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