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Steven Mnuchin: There is no US intention to weaken dollar


U.S. treasury secretary Steven Mnuchin said in a press statement on Wednesday that his country had no intention of intervening to weaken the dollar exchange rate, and Mnuchin also commented on the reversal in U.S. bond yields, where long-term bond yields will be largely monitored during the coming period, because of the gravity that this reversal indicates from the approaching economic recession.

During his remarks, Mnuchin did not announce the exact time of the Chinese trade delegation's visit to the United States to begin trade talks between the two countries in an effort to calm their trade war. For his part, the representative for the Ministry of Commerce of China opposed any escalation of the pace of trade war with the United States, adding that he wished that the U.S. side would create the conditions for meeting halfway to stop the continuation of the trade war and its direct damage.

As of 11:20 GMT, the dollar index, which measures the performance of the U.S dollar against a basket of six major currencies, rose today to reach 98.21 points, while it opened at 98.12 points, the highest level reached during the session at 98.24 points.

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