Trump says dollar will get 'stronger and stronger,' Mnuchin was misinterpreted
President Donald Trump said the U.S. dollar will strengthen over time under his leadership and that recent remarks made by Treasury Secretary Steven Mnuchin about the greenback were misinterpreted.
"The dollar is going to get stronger and stronger and ultimately I want to see a strong dollar," Trump told CNBC in an exclusive interview from the World Economic Forum in Davos, Switzerland. "Our country is becoming so economically strong again and strong in other ways, too."
Trump's latest remarks about the U.S. currency diverge somewhat from past comments he has made. Last April, Trump said he was worried the dollar was "getting too strong."
On Wednesday, Mnuchin said he welcomed a weaker U.S. dollar, adding it would benefit the country in terms of trade. On Thursday, Mnuchin said this is not a "shift in my position on the dollar at all. It is perhaps slightly different than previous Treasury secretaries who in recent times have just commented on the strong dollar."
Trump said Mnuchin's comments "were taken out of context," adding he "read his exact statement."
Mnuchin's remarks kicked off a 2 percent decline in the dollar index, which tracks the U.S. currency's performance against six other currencies.
The index traded at 88.75 on Thursday, near its lowest levels in three years. It began Wednesday trading around 90.
— Reporting by CNBC's Joe Kernen.
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