U.S. Treasury Secretary Jack Lew holds a meeting of the Financial Stability Oversight Council at the Treasury Department in Washington October 6, 2014.
U.S. Treasury Secretary Jack Lew on Tuesday appeared largely unmoved by the recent appreciation in the U.S. dollar although he repeated Washington's call on China to stop holding down the value of its currency.
Asked at a conference whether he was comfortable with the dollar's strength or troubled by comments by European officials that the euro should weaken, Lew declined to express dismay.
The European Central Bank recently has stepped up actions to help the region's economy, putting downward pressure on the euro.
"It is wrong to get into exchange rate competition with the purpose of promoting advantage one over the other. On the other hand, we have called on many countries of the world to take decisive action to get their economies to grow," Lew said.
Still, he said China's yuan currency remained too weak. "There is space for more appreciation," he said.
