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Snow''s words prompt dollar fall.

Publication: The Washington Times
Publication Date: 13-MAY-03 		Format: Online
Delivery: Immediate Online Access
Full Article Title: Snow''s words prompt dollar fall.(BUSINESS)

Article Excerpt
Byline: Patrice Hill, THE WASHINGTON TIMES

Treasury Secretary John W. Snow set off a fall of the dollar yesterday as investors concluded the Bush administration, with an eye to the 2004 election, is engineering a major turnaround in the currency to promote exports and economic growth.

Mr. Snow noted that the lower dollar is helping U.S. exports in an interview Sunday on ABC-TV. His comment was echoed and amplified yesterday by Commerce Undersecretary Kathleen Cooper, who said the strong dollar has hurt U.S. exports, increased the trade deficit and acted as a drag on the U.S. economy.

"Our economic performance has been affected by the widening trade gap," she said at a Commerce Department conference on international trade, noting that the dollar's recent big drop against the euro and...

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