Fri Jul 9

MANCHESTER, N.H., July 9 (Reuters) - U.S. Treasury Secretary John Snow said on Friday the U.S. backs a strong dollar and feels that currency values are best determined in competitive markets.

Speaking to reporters after participating in a round-table meeting with local businessmen at a chocolate factory, Snow repeated his familiar support for a strong currency.

"We support a strong dollar, but a currency's value in exchange is best set in open, competitive currency markets," Snow said.

Snow said the currency policy reflects the Bush administration's broad approach to trade, in which it backs reduced market restrictions for goods and services, trade and for capital flows generally.

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