The strong-dollar policy is a US government policy based on the assumption that a strong exchange rate of the dollar is both in the US national interest and in the interest of the rest of the world. The policy was first enunciated by the then-Secretary of the Treasury Robert E Rubin, shortly after he succeeded Lloyd Bentsen as US Secretary of the Treasury on 11 January 1995. It followed a sharp rise in Treasury bond yields at the end of 1994 and the weakness of the dollar early in 1995, especially vis-à-vis the deutschmark and the yen — at the time the two major currencies after the dollar. The dollar hit 80.63 yen on 18 April 1995, which was its post-war low until 16 and 17 March 2011.
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