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Treasury Secretary Nominee Yellen Says Markets Must Determine Dollar Value

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WASHINGTON, Jan 19- The value of the dollar and other currencies should be determined by markets, Treasury secretary nominee Janet Yellen said Tuesday at a confirmation hearing at a US Senate panel.

Yellen said the country should oppose attempts by other nations to artificially manipulate currency values ​​to gain commercial advantages, and said targeting exchange rates to achieve such advantages was “unacceptable.”

He also said that China was clearly the United States’ most important strategic competitor and highlighted the determination of the government of President-elect Joe Biden to crack down on what it called the “abusive, unfair and illegal practices” of the Asian giant. (Reporting by David Lawder and Andrea Shalal, Edited in Spanish by Manuel Farías).

Ben Oakley
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