Janet Yellen to say U.S. does not seek weaker dollar

Janet Yellen, President-elect Joe Biden’s pick to take over the U.S. Treasury, is expected to affirm the United States’ commitment to market-determined foreign exchange rates when she testifies on Capitol Hill on Tuesday, the Wall Street Journal reported on Sunday. The Treasury secretary nominee, at a Senate confirmation hearing, will make clear the United States does not seek a weaker dollar, the newspaper reported on.wsj.com/35NaV8W, citing Biden transition officials familiar with her preparation for the session.

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