Mnuchin Says His Feedback On The Greenback Had Been 'utterly Taken Out Of Context'

Treasury Secretary Steven Mnuchin mentioned Friday his latest remarks on the U.S. greenback had been “utterly taken out of context.”

Mnuchin made the remark in Friday’s Wall Avenue Journal, and later in an interview with CNBC.

He advised the Journal his remarks on Wednesday had been a easy “assertion of truth concerning the impression of a weaker greenback within the quick time period. I wasn’t desiring to endorse it or encourage it in any manner.”

On the World Financial Discussion board in Davos, Switzerland, on Wednesday, Mnuchin mentioned he welcomed a weaker greenback, including that it could profit the nation’s commerce.

These feedback despatched the greenback to its lowest ranges in three years. The U.S. foreign money traded close to these ranges on Friday.

President Donald Trump advised CNBC he additionally thought Mnuchin’s feedback had been taken out of context, noting he “learn his precise assertion.”

Click on right here to learn the total Wall Avenue Journal report.

Click on right here to learn the total transcript of President Trump’s interview with CNBC.

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