Treasurys Yellen says U.S. committed to market-determined exchange rate

div classBodysc17zpet90 cdBBJodivpBONN, Germany Reuters – U.S. Treasury Secretary Janet Yellen said on Wednesday the United States was committed to a marketdetermined exchange rate, after being asked by reporters about recent strengthening of the dollar. p

Yellen told reporters ahead of a meeting of G7 finance ministers in Bonn that tighter U.S. monetary policy and risk aversion were factors favoring dollar strength, but having a marketdetermined exchange rate was “the best regime.”pdivdivdiv classBodysc17zpet90 cdBBJodiv

“The dollar is a global safe haven. And we tend to experience inflows naturally that push up the dollar in highly uncertain economic times,” Yellen said. “So I think its understandable that the dollar has risen.”

Reporting by David Lawder Writing by Rami Ayyub editing by John Stonestreet and Chizu Nomiyama

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