Mnuchin Weakens Dollar On Purpose

Is a weak dollar 'good' for the U.S.? It's complicated. A dollar rout intensified on Wednesday after U.S. Treasury Secretary Steven Mnuchin said a lower greenback was good for the economy. A weaker U.S. currency may not prove a long-term economic boost, however. “Treasury secretaries in the past have always spoken in favour of a stronger dollar, not a weaker dollar,” said Sireen Harajli, currency strategist at Mizuho in New York.