Greenspan, Geithner back "of depreciation of the dollar"

U.S. dollar down to make counter-statement, U.S. Treasury Secretary in the Group of 20 (G20) summit in Seoul that the U.S. will never deliberately to drive down the dollar to stimulate exports.

• U.S. Treasury Secretary Tim Geithner (Tim Geithner) make a statement in response Zhefan • Alan Greenspan (Alan Greenspan) in the British "Financial Times" wrote a column, the former chairman of the Federal Reserve that the U.S. is "pursuing a policy of devaluation."

Geithner on financial television channel CNBC, said: "I very much respect for Alan Greenspan, and had the privilege to work together with him for many years, but his description of the Fed's policy or our policy is not accurate."

"We will never attempt to devalue the currency to gain competitive advantage or to promote economic growth."

He attributed the dollar's recent depreciation of the "safe harbor" reversal of capital flows, which once sought to dollar-denominated assets to avoid the risk of investors, now have the confidence to switch to other currencies.

G20 summit will be ended today, officials are trying to bridge the participating parties in the exchange rate and current account deeply divided on the issue. Proposed for the U.S. current account deficits and surpluses set broad targets of the vision, the German Chancellor Angela • Angela Merkel (Angela Merkel) once again expressed opposition to the plan may not appear in the final version of the communiqué.

British Prime Minister David • Cameron (David Cameron) played down expectations of progress: "I did not say G20 in a grand stage."

Number of countries accused the Federal Reserve to stimulate the U.S. economy, pouring more money into the financial markets, leading to depreciation of the dollar, resulting in capital inflows into emerging markets, undermine economic stability.