Treasury Secretary Timothy Geithner said the greenback’s drop in recent months is due to a reversal in safe-haven capital flows, rebutting former Federal Reserve Chairman Alan Greenspan’s assessment of U.S. policy. Greenspan wrote in the Financial Times today that the U.S. is “pursuing a policy of currency weakening.”- Bloomberg
“The suppression of the renminbi and the recent weakening of the dollar are, of necessity, producing firming exchange rates in the rest of the world to, as they see it, the rest of the world’s competitive disadvantage.” –
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