The chief U.S. Treasury spokesman repeated standing policy on Monday that international currency markets should determine foreign exchange values.

I'm satisfied that markets are largely determining the value of currencies, Treasury Spokesman Tony Fratto said in response to a question about the dollar's decline in value against other currencies..

We believe, and this has gone through a number of administrations, that currency values should be set in open competitive markets. We've heard a number of Treasury secretaries make that point, and I'm not going to try and alter it here at the podium, he added, speaking at a weekly news briefing.

U.S.