WASHINGTON, Jan. 19 (Xinhua) -- Janet Yellen, U.S. President-elect Joe Biden's nominee for treasury secretary, said on Tuesday that the United States does not seek a weaker dollar to gain competitive advantage.
"I believe in market determined exchange rates. The value of the U.S. dollar and other currency should be determined by markets. Markets adjust to reflect variations in economic performance and generally facilitate adjustments in the global economy," Yellen said at her confirmation hearing virtually held by the Senate Finance Committee.
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