When asked about the strength of the dollar, US Treasury Secretary Janet Yellen said they were committed to market-determined exchange rates, Reuters reports. “The tightening of US monetary policy and risk aversion are factors that favor the strength of the dollar,” added Yellen.
Other points to consider
“The assets of the Russian central banks are considerable, the US and others have blocked some 300 billion dollars.”
“It would not be legal now in the US for the government to seize those assets.”
“There are really a number of issues, talks have just started on financing reconstruction.”
“Inflation is a concern in the United States and in many other parts of the world.”
“We understood that we could not fully shield ourselves from the economic consequences of Russian sanctions.”
“The EU timetable for ending Russian oil imports allows enough time to ensure it is done in an orderly manner.”
“By shutting off oil and gas revenues for Russia, we would like to do what we can to decrease them.”
market reaction
The dollar index showed no immediate reaction to these comments and was last seen rising 0.23% on the day to trade at 103.53.
Source: Fx Street
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