GYEONGJU, South Korea (Reuters) - Treasury Secretary Timothy Geithner suggested that he sees no reason for the dollar to sink further against the euro and the yen, saying these major currencies are "roughly in alignment," the Wall Street Journal reported on Thursday.
In an interview with the newspaper, Geithner also emphasized that the United States was not pursuing a deliberate policy of devaluing the dollar.
This echoed comments he made on Monday in Palo Alto, California, saying "No country around the world can devalue its way to prosperity."
In the Journal interview, he referred to three groups of currencies. In one, he put countries with currencies "undervalued by any measure" and in the second he put emerging economies with flexible exchange rates that intervene or impose taxes to try to reduce risks.
"In the third group, he put "the major currencies, which are roughly in alignment now," a suggestion that he sees no need for the dollar to sink more than it already has...
