January 25, 2018 / 12:18 PM / 4 months ago

Solid U.S. economy, high rates point to strong dollar: SNB's Jordan

ZURICH (Reuters) - Robust U.S. economic growth and relatively higher U.S. interest rates should support a strong dollar, Swiss National Bank Chairman Thomas Jordan said on Thursday.

Chairman of Swiss National Bank (SNB) Thomas Jordan addresses a news conference in Zurich, Switzerland December 21, 2017. REUTERS/Arnd Wiegmann

“Everything points to the dollar being relatively strong,” Jordan told Swiss broadcaster SRF. “But just the opposite happens.”

“There are currency movements which are difficult to explain, but one shouldn’t worry so much because they can change from day to day,” he said in an interview.

U.S. Treasury Secretary Steven Mnuchin said on Thursday that a weaker dollar benefited U.S. trade balances in the short term but that he believed in the long-term strength of the currency.

Reporting by John Revill; Editing by Michael Shields

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