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WASHINGTON, Jan 21 (Reuters) - President Barack Obama is committed to pressing China on its currency practices, which are a major concern for the both United States and the global economy, U.S. Treasury Secretary-designate Timothy Geithner said on Wednesday.
Geithner was asked at his Senate Finance Committee confirmation hearing whether he thought China's "manipulation" of its currency remained a serious concern.
"I do believe it is a significant issue," he told Sen. Jim Bunning, a Kentucky Republican who has sponsored legislation to press China to move a more flexible exchange rate policy.
"As I said earlier, I believe it is important for the United States and the global economy that our major trading partners operate with a flexible exchange rate system and that market forces determine the level of those exchange rates," Geithner said.
"I think that's very important and I will, when I have some time to think through how best to achieve that objective look forward to a chance to work with you and your colleagues on the committee on how we do that," Geithner said.
"But you're right to emphasize the president's commitment to this. This is an important issue for the country. It's a difficult, important issue to work through," Geithner said.
(Reporting by Doug Palmer; editing by Sandra Maler))