White House Claims to Maintain 'Strong Dollar' Policy

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Last updated at: (Beijing Time) Tuesday, May 20, 2003

White House Claims to Maintain 'Strong Dollar' Policy

The Bush administration's support for a strong dollar remained in place, White House said Monday.

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The Bush administration's support for a strong dollar remained in place, White House said Monday.

"There's no change," Ari Fleischer, White House spokesman told the press Monday when talking about the US policy concerning the dollar's value.

Analysts believe Fleischer's words could be intended to restorea delicate balance over the US dollar.

Reports said that investors dumped the dollar after interpreting US Treasury Secretary John Snow's recent remarks thatthe dollar's value is determined by market fundamentals as a sign that the US government is backing away from its verbal support fora strong dollar.

The decline of the US dollar has triggered wide concerns on themarket. Currency investors are speculating whether the US government has back away from its support for a strong dollar in order to promote export.

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