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US Treasury Sec. Mnuchin: US cannot continue to spend at current rate

The United States' economy could handle deficits at this point but government spending issues need to be addressed over time, US Treasury Secretary Mnuchin told CNBC on Wednesday. "The US cannot continue to spend at the current rate," Mnuchin added.

Regarding the US-Iran conflict, Mnuchin noted that Iran sanctions were working and said that they are looking forward to working with European to snap Iran sanctions back in place.

These comments don't seem to be having a significant impact on market sentiment. As of writing, the 10-year US Treasury bond yield was down 1% on the day.

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USD/JPY remains confined in tight range below 110

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