U.S. President-elect Joe Biden has been warned not to tinker with the dollar’s standing in world markets given the parlous state of the country’s finances - but his new Treasury chief may be equally advised against talking up the currency too much. In an open letter to the as-yet unknown next Treasury Secretary this week, Larry Summers - a former holder of the job and a Harvard professor - said the need for expansionary economic policies meant it would be “unwise to appear actively devaluationist or indifferent to the dollar.” “Favoring a strong dollar based on a strong economy or some such seems prudent,” Summers ... (full story)