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PITTSBURGH, Pennsylvania — Treasury Secretary Timothy Geithner reaffirmed the US strong-dollar policy at the opening of the Group of 20 summit, following China-led calls to review its role as a reserve currency.
"A strong dollar is very important to the United States," Geithner said at a news conference on Thursday at the opening of the two-day summit in Pittsburgh, where leaders of the largest rich and emerging economies are discussing the global economic crisis...
Of course he's the latest in a long, illustrious line of Treasury Secretaries including:
DUBLIN (Reuters) - The United States backs a strong dollar but believes the currency market should determine exchange rates based on fundamentals, U.S. Treasury Secretary John Snow said on Monday during a visit to Ireland...
...The dollar fell to a seven-month low versus the yen on Monday as it resumed recent weakness due to concerns about the growing U.S. current account deficit...
WASHINGTON (AP) — Treasury Secretary Henry Paulson voiced support for a strong dollar on Tuesday... Mindful that the country must borrow $2 billion daily from foreigners to finance its huge trade deficits, Paulson, like his predecessors, expressed unwavering support for keeping the dollar's value strong against other currencies.
"I believe that a strong dollar is in our nation's interest and that currency values should be determined in open and competitive markets in response to underlying fundamentals," Paulson said...
Maybe Geithner will have better luck and you'll wish you'd sold your gold when it was north of $1000...
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