White House says Trump believes in a 'free-floating' currency

Key Points
  • The White House says President Donald Trump supports a "free-floating" currency.
  • Earlier, Treasury Secretary Steven Mnuchin said a weaker dollar could be good for the U.S. economy.
  • The dollar fell after Mnuchin's comment.
White House: Believe in US dollar as a free-floating currency

The White House declined Wednesday to echo Treasury Secretary Steven Mnuchin's comment that a weaker dollar helps the United States.

Press secretary Sarah Huckabee Sanders told reporters that the dollar is "stable" and reflects a "strong" American economy. When pressed if President Donald Trump supports a stronger or weaker dollar, she did not specify.

"We believe in free-floating currency. The president has always believed in that," Sanders said.

President Donald Trump
Brendan Smialowski | AFP | Getty Images

Earlier, Mnuchin said "a weaker dollar is good for us as it relates to trade and opportunities." U.S. Treasury secretaries typically talk up a strong dollar.

The greenback fell against a trade-weighted basket of global currencies after Mnuchin's comment. The dollar index was down about 1 percent Wednesday afternoon.