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12/14/2019, 6:43 PM (Source: TeleTrader)
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Mnuchin denies US weaponizing dollar

United States Treasury Secretary Steven Mnuchin said on Saturday in Qatar that the US is "not weaponizing" the dollar.

Speaking to CNBC on the sidelines of the Doha Forum, Mnuchin stated: "I take great responsibility that people use the dollar as the reserve currency of the world, and the dollar is quite strong — sometimes the president says the dollar is too strong." He added: "The dollar is strong because of the U.S. economy and because people want to hold dollars and the safety of the U.S. dollar. So because of that, we take sanctions responsibility very seriously — as a matter of fact, I personally sign off on every single piece of sanction that we do."

As the US imposed sanctions on dollar trade for a number of states including Iran and North Korea, Chinese and European Union officials have been working on strengthening trade in their own currencies.

Breaking the News / VP