Lew Says He Will Maintain Strong Dollar Policy If Confirmed

U.S. Treasury secretary nominee Jack Lew said he will maintain the strong-dollar policy if he is confirmed.

“Treasury has had a longstanding position through administrations of both parties over many years that a strong dollar is in the best interests of promoting U.S. growth, productivity and competitiveness,” Lew said at his Senate confirmation hearing today. “If confirmed, I would not change that policy.”

Lew also said China’s currency is still undervalued.

To contact the reporters on this story: Ian Katz in Washington at ikatz2@bloomberg.net.

To contact the editor responsible for this story: Chris Wellisz at cwellisz@bloomberg.net