January 24, 2018 / 8:02 PM / in a month

White House says dollar very stable, believes in free-floating currency

WASHINGTON (Reuters) - The U.S. dollar is very stable and President Donald Trump believes in a free-floating currency, the White House said on Wednesday after a senior U.S. official welcomed a weaker dollar.

“We believe in a free-floating currency. The president has always believed in that,” White House spokeswoman Sarah Sanders told reporters at a daily briefing. “We have ... a very stable dollar, in large part due to how well the U.S. economy is doing right now.”

In remarks seen by markets as a departure from traditional U.S. currency policy, U.S. Treasury Secretary Steven Mnuchin said at the World Economic Forum in Davos, Switzerland, that a weaker dollar was good for the United States.

Reporting by Roberta Rampton; Writing by Mohammad Zargham; Editing by Tim Ahmann

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