Oct. 21, 2010 – In an interview with the Wall Street Journal, US Treasury Secretary Timothy Geithner says the dollar, euro and yen are “roughly in alignment,” and he suggested the dollar had no reason to lose more value against those currencies.
His comments were made ahead of the G20 finance meetings in South Korea where the US will reportedly push countries to let their currencies rise more with the market, which would in effect balance trade deficits and surpluses.
Attentions are squarely on China and its monetary policy of undervaluing its currency to maintain its edge in international trade.
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