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Treasury Secretary Geithner, speaking from Tokyo, said that he wants a strong dollar and that the United States is determined to bring budget deficits down.
Mr Geithner has made this statement several times in the past. Yet, this year the dollar has fallen 7.6% and hit a 15 month low of 74.889 on Wednesday.
You are probably wondering why his words are being discounted. The dollar keeps falling. Let's look at the underlying conditions in the US economy that are working against a strong dollar.
Geithner cited unemployment as one factor. He said: "Unemployment is really very, very high, exceptionally higher in the United States. It is still rising. It's probably going to rise for a bit longer, until you see a longer period of growth take hold."
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