and the Dot-com bubble than any deliberate policy initiatives. Nevertheless, the dollar underwent an extraordinary revival since hitting lows in April 1995, rising more than 50 percent against the yen and nearly 20 percent against the mark by 1997 — with an appreciation of 7.5 percent against the yen and 8.7 percent against the mark from 1 January 1997 to 7 February 1997. 21st century Since inception, the strong dollar policy has usually consisted as periodic statements by government officials insisting that the U.S. continues to pursue a strong dollar. However, the status quo is not always adhered to. For example, during the World Economic Forum in Davos, Switzerland, Secretary of the Treasury Steven Mnuchin was quoted saying "a weak dollar is good for U.S. trade", which was an impetus for a one percent drop in the U.S. Dollar Index by six days later. See also Hard currency International use of the U.S. dollar Superdollar (economics) References Foreign exchange market Commercial policy United States economic policy