January 25, 2018 / 7:25 PM / a year ago

Greenback recovers ground after Trump says he wants 'strong dollar'

FILE PHOTO: A U.S. Dollar note is seen in this June 22, 2017 illustration photo. REUTERS/Thomas White/Illustration/File Photo

(Reuters) - The dollar pared losses against a basket of major currencies on Thursday after U.S. President Donald Trump told CNBC he ultimately wants the dollar to be strong, contradicting comments made by Treasury Secretary Steven Mnuchin one day earlier.

“The dollar is going to get stronger and stronger and ultimately I want to see a strong dollar,” Trump said in an interview with CNBC, adding that Mnuchin’s comments had been misinterpreted.

Dollar index, which measures the greenback against a basket of six major currencies, was down 0.2 percent at 89.027, after having slipped to a fresh three-year low of 88.438 earlier in the session.

Reporting by Saqib Iqbal Ahmed in New York; Editing by Lisa Shumaker

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