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Yellen pressed to back strong dollar in reverse of Trump-era tone
The greenback’s tumble this year it’s heading for the second-biggest drop in the past decade has already stoked foreign policy makers’ concerns
December 21, 2020 5 MINS
Janet Yellen once touted the benefits of a weaker greenback for exports, but as the incoming Treasury secretary, she faces pressure to return the U.S. to a “strong-dollar” policy and may cause trembles on Wall Street if she doesn’t.
The greenback’s tumble this year it’s heading for the second-biggest drop in the past decade has already stoked foreign policy makers’ concerns, thanks to the competitive advantage it gives the U.S. Even a tacit endorsement of a weakening dollar could spur tensions with trading partners.