On CNBC, US Commerce Secretary Gary Locke says that the Obama Administration is concerned about the week dollar, but then immediately launched into an explaination on why USD weakness helps exports.
It is rare to hear a US official other than the Treasury discuss the dollar, but the comments will bolster the market’s belief that the US welcomes the weak dollar as an export booster.
EUR/USD has ticked up mildly to 1.4815.
