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US dollar strengthening, making exports more expensive: Obama

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US President Barack Obama made a rare reference to the strength of the US dollar on Thursday, noting it had gotten stronger as economies in Europe and Asia struggled. "The dollar's becoming stronger because a lot of people want to park their money here," Mr Obama said at an event in Kentucky. "That makes our exports more expensive."

[LOUISVILLE] US President Barack Obama made a rare reference to the strength of the US dollar on Thursday, noting it had gotten stronger as economies in Europe and Asia struggled. "The dollar's becoming stronger because a lot of people want to park their money here," Mr Obama said at an event in Kentucky. "That makes our exports more expensive."

Mr Obama said people had to keep working hard to keep the economy going and lambasted Republicans for prioritizing tax cuts for the wealthy instead of investing in apprenticeships and job training programs as he favors. "We can't just sit back and assume that growth continues at the kind of pace that we need" to give opportunity to young people, he said.

REUTERS