Trump says Mnuchin's comments on the dollar were 'taken out of context'
Carlos Barria/Reuters
- President Donald Trump on Thursday said Treasury Secretary Steve Mnuchin's remarks on the dollar were "taken out of context."
- On Wednesday, Mnuchin said a weaker dollar was good for US trade.
- Trump told CNBC: "The dollar is going to get stronger and stronger, and ultimately I want to see a strong dollar."
President Donald Trump said Thursday that earlier comments by Treasury Secretary Steven Mnuchin on the dollar were "taken out of context."
On Wednesday, Mnuchin told reporters at the World Economic Forum in Davos that a weaker dollar was good for the US "as it relates to trade and opportunities." His comments triggered the dollar's worst sell-off in 10 months.
"Our country is becoming so economically strong ... that the dollar is going to get stronger and stronger, Trump told CNBC. "And ultimately, I want to see a strong dollar."
The dollar index, which tracks it against a basket of other major currencies, spiked following Trump's comments to trade nearly unchanged, at 88.93. The index earlier fell to a three-year low of 88.27.
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