"However, most other economies are also experiencing acceleration in their recoveries. And, in most cases, improvements in foreign growth rates are more dramatic and by comparison to the U.S., should lead to a weaker dollar."
Commenting on the dollar's weakness, Wolin said that those who thought the U.S. was not doing enough to support a strong dollar were confusing what the U.S. Treasury's preference was with what the markets had actually done to the greenback's value.
"There has been a real imperative to make sure the U.S. economy has recovered and has gotten to a better place, which I think is now something that has happened and the U.S. economy continues to be progressing along that road to recovery," Wolin said.
(Read more: Jack Lew to press Germany to boost domestic demand)
"But there's no question that Treasury Secretaries have said...they'd rather have a strong dollar.
"In the end, of course, markets will determine these levels; there's nothing that can be said other than that. But if the choice is between a strong dollar and not a strong dollar, it's clearly the former that Treasury Secretaries would prefer."