Reply #109: Geithner talks tough on U.S. dollar

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http://www.marketwatch.com/story/geithner-talks-tough-on-us-dollar-2011-04-26

WASHINGTON (MarketWatch) — Treasury Secretary Timothy Geithner Tuesday talked tough on the U.S. dollar as he said the U.S. will never attempt to lower the value of the greenback to gain an advantage in global trade.

“We will never embrace a strategy of trying to weaken our currency to try to gain economic advantage,” Geithner said, going further than his usual comment that a strong dollar is in the interest of the United States.

Geithner made the comment during an appearance at the Council of Foreign Relations in New York. Geithner has been in New York for two days for a series of mostly private meetings.

The dollar has been on a down-trend recently in foreign-exchange markets, with one index that measures the U.S. unit against a basket of six rivals /quotes/comstock/11j!i:dxy0 DXY -0.22% slipping to its lowest level since August 2008. Read MarketWatch’s comprehensive currency coverage.