U.S. Treasury Secretary Henry Paulson said Thursday that a strong dollar “is in our nation's interest” as the U.S. currency fell to another record low against the euro and fell below 100 Japanese yen for the first time in more than a decade. Asked if he would like to see the dollar strengthen, Paulson replied, “I believe very much so, that a strong dollar is in our national interest.” The dollar has declined in value on foreign-exchange markets in recent months amid growing concerns that the world's biggest economy could be falling into recession. Paulson reiterated his belief in a strong dollar after the euro hit a record $1.56 dollars on Thursday. Meanwhile, the U.S. currency fell to 99.78 yen, marking its lowest point against the Japanese currency since late 1995. The U.S. Treasury chief acknowledged that the U.S. economy was suffering some problems as he spoke with reporters at the National Press Club in Washington. “Our economy, like any other, has got its ups and downs, but the long-term fundamentals are strong, and I believe it's going to be reflected in the currency market,” he said. In a television interview, President George W. Bush said the dollar's weakness was “not good tidings” and that he would like a stronger dollar.
