Janet Yellen, President-elect Joe Biden’s pick to take over the U.S. Treasury, is expected to affirm the United States’ commitment to market-determined foreign exchange rates when she testifies on Capitol Hill on Tuesday, the Wall Street Journal reported on Sunday. The Treasury secretary nominee, at a Senate confirmation hearing, will make clear the United States does not seek a weaker dollar, the newspaper reported, citing Biden transition officials familiar with her preparation for the session.

Source: Wall Street Journal January 17, 2021 16:41 UTC