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U.S. Treasury Secretary Mnuchin dismissed concerns that the dollar's recent drop threatens its global dominance. He said, "Dollar prices don’t reflect our strong-dollar policy. The focus is long-term actions to keep it as the world’s reserve currency." The dollar index fell 11% in H1, its worst since 1973. Declines followed worries over Trump’s tariffs and tough diplomacy, which could hurt growth and foreign investment. Mnuchin credits GOP tax cuts for boosting the economy.
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