WASHINGTON, July 23 (Xinhua) -- U.S. Treasury Secretary Henry Paulson on Monday backed a strong dollar policy, indicating no intention to intervene the currency market.

    In an interview with CNBC TV channel, Paulson said that he felt very strongly that "a strong dollar's in our nation's interest."

    "The dollar's value should be determined in a competitive marketplace based upon underlying economic fundamentals," he said, adding the United States has very strong underlying economic fundamentals.

    He also noted that the slowdown in the U.S. house market will not infect the broader economy.

    "I happen to believe that we are making a successful transition to an economy that was growing at a rate that wasn't sustainable to one that is sustainable," Paulson added.