As we noted at the time, Mnuchin first had played down Trump's WSJ comment that the dollar was getting "too strong" in an interview first published late on Monday in the FT.
It was not that long before that the United States dollar had fallen to 108.14 against the yen, which was the lowest price since the middle of November; amid rising tensions over North Korea's heavy desire for Japan's safe currency.
Mnuchin told the Financial Times this week the tax reform timeline is "highly aggressive to not realistic at this point", in referring to his prior comments on finishing tax reform by August.
In an interview with the Financial Times, Mnuchin said that "as the world's currency, the primary reserve currency, I think that over long periods of time the strength of the dollar is a good thing", acknowledging that "it's a function of the confidence and the strength of the U.S. economy".
Tensions on the Korean peninsula have contributed to the dollar rise as a "risk-off" mentality takes effect among traders. The dollar index, which gauges the USA currency against a basket of six major counterparts, was flat around 100.18.
"There was quite strong thinking in the market that the US would maybe put pressure on Japan in terms of currency manipulation. on that front", said Neil Jones, head of hedge fund FX sales at Mizuho in London.
DACA Protected Immigrant Who Was Deported Is Now Suing Trump Administration
According to his lawsuit, Montes suffered a traumatic brain injury when he was a child, which impaired his cognitive ability. Leaving the United States without advance permission from the government automatically cancels DACA protections.
Following these comments from the Treasury Secretary, dollar gained overnight and was up 0.1 percent against yen.
The main driver for that move, said strategists, was a weaker dollar and the pricing out of the bet that the U.S. Federal Reserve would raise interest rates three times this year.
Trump campaigned on pushing through a major tax overhaul that lowers rates for consumers and businesses.
The euro was a shade higher at $1.06490, having seen limited movement on Monday when many European markets were shut for the Easter holiday. But it turned lower to trade down 0.16 percent at 108.73 yen.
The dollar dropped to a almost three-week low against a basket of major currencies on Tuesday, pressured by lower Treasury yields, while sterling soared after Prime Minister Theresa May called for an early general election.
Dow e-minis 1YMc1 were down 27 points, or 0.13 percent, with 27,231 contracts changing hands. Meanwhile, weaker iron ore prices, Australia's key export, also weighed on the currency. However, things turned around when US Treasury Secretary Steven Mnuchin contradicted his boss's words about the US dollar.