Janet Yellen to say that the US is not seeking a weaker dollar: WSJ

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PHOTO FILE: Janet Yellen, U.S. President Joe Biden’s candidate for finance secretary, will take to the podium to speak as President-elect Biden nominates nominees and office bearers to serve on the its economic policy team at its head office in Wilmington, Delaware, USA. , December 1, 2020. REUTERS / Leah Millis

(Reuters) – Janet Yellen, President Joe Biden’s election to take over the U.S. Treasury, is expected to reaffirm the U.S. commitment to market-confirmed foreign exchange rates when she testifies Capitol Hill on Tuesday, the Wall Street Journal reported on Sunday.

The Finance secretary’s claim, at a Senate confirmation hearing, will make clear that the United States will not seek a weaker dollar, the newspaper said on.wsj.com/35NaV8W, citing Biden’s transition officials who were familiar with its preparations for the session.

Reporting by Kanishka Singh in Bengaluru; edited by Jonathan Oatis

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