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White House stresses `strong dollar` policy prior to Bush`s Asia visit
Aboard Air Force One, Oct 17: The White House has reiterated its `strong dollar` policy, as US President George W. Bush headed to Asia, where he has vowed to discuss currency rates with Chinese and Japanese leaders.
Aboard Air Force One, Oct 17: The White House has reiterated its "strong dollar" policy, as US President George W. Bush headed to Asia, where he has vowed to discuss currency rates with Chinese and Japanese leaders.
A senior administration official, speaking to reporters on board the Presidential jet headed to Asia, repeated Bush's position that markets should determine the strength of a currency.
"The markets act to set the exchange rate. We have a strong dollar policy," the official said yesterday.
The official said Bush would discuss economic fundamentals and the importance of trade when he meets Japanese Prime Minister Junichiro Koizumi in Japan and Chinese President Hu Jintao in Thailand, but declined to predict the outcome of the talks on exchange rates.
"We're having good discussions with the folks about the President's principles here, which is that the market sets the rate," the official said.
"We have discussions in which the President's people, (Treasury Secretary) John Snow for instance, are able to make our concerns known and to state the principle, and we'll see how people respond."
Bush is slated to meet with Koizumi during his October 17-18 stay in Japan and with Hu on the sidelines of the October 20-21 Apec Summit in Bangkok, according to US officials.
Bureau Report
A senior administration official, speaking to reporters on board the Presidential jet headed to Asia, repeated Bush's position that markets should determine the strength of a currency.
"The markets act to set the exchange rate. We have a strong dollar policy," the official said yesterday.
The official said Bush would discuss economic fundamentals and the importance of trade when he meets Japanese Prime Minister Junichiro Koizumi in Japan and Chinese President Hu Jintao in Thailand, but declined to predict the outcome of the talks on exchange rates.
"We're having good discussions with the folks about the President's principles here, which is that the market sets the rate," the official said.
"We have discussions in which the President's people, (Treasury Secretary) John Snow for instance, are able to make our concerns known and to state the principle, and we'll see how people respond."
Bush is slated to meet with Koizumi during his October 17-18 stay in Japan and with Hu on the sidelines of the October 20-21 Apec Summit in Bangkok, according to US officials.
Bureau Report