U.S. Treasury’s Lew says will press trading partners on exchange rates
17
Apr
Thu Apr 16, 2015 10:21am EDT
WASHINGTON (Reuters) – U.S. Treasury Secretary Jack Lew said on Thursday the United States had made progress in convincing other countries not to manipulate their currencies and would press even harder for trading partners to let exchange rates move freely.
Lew made the remarks in testimony prepared for a Senate Finance Committee hearing on trade. Many U.S. lawmakers want the administration to insist on tough currency rules in trade pacts, but officials say that is not the right forum.
“We will continue to intensify our efforts on exchange rates using the tools and channels that are most effective,” Lew said.
“We will build on our ongoing multilateral and bilateral engagement…to press countries even harder toward more market-determined exchange rates and to secure strong commitments on currency disciplines,” he said.
(Reporting by Krista Hughes; Editing by Emily Stephenson)
NOW TREAT AS RUMOR
FROM EAGLE1
Eagle1 “Just thought you all would like to know that Jack Lew was quoted on FOX Business News as saying that the financial community needs to be aware that several currencies will be undergoing a major revaluation during the next few days.”
TNT Chat
“As of today, Thursday 16 April 2015 @ 1700 hours was the meeting of the consortium banks for the official green light with HSBC, Credit Suisse, Rothschild and FINMA for the start of the Redemption Program to repurchase Chinese Bonds and Boxes. These banks internal release was the last necessary step. All transactions will be starting tomorrow, April 17th 2015”
JPayan : TNT: I hardly ever Post,,however tonight I feel I should.. I saw the interview with Mr. Lew This Morning 1:30 AM Alaska time,, the words that I heard were ,,Don’t be surprised if Several Countries Revalue their currency’s in the near future..on CNBC , World Wide Exchange,, I saw,,I heard his words..paused the TV,,..rewound and heard it 3 more times!!
