WASHINGTON (MNI) – The volatility in the euro-dollar exchange rate
observed in recent months has been exceptional, but active intervention
seems unlikely, Bank of Israel Governor Stanley Fischer said on Friday.
“Volatility in the euro-dollar rate is impressive,” Fischer said in
introductory remarks to a discussion panel here on a joint exit strategy
from the crisis.
However, Fischer said that he did not “think there is a whole lot
of desire on either side to intervene in the foreign exchange markets in
any case — by either the US authorities or the European authorities.”
“So I think it is not going to happen. So the desired coordination
will take place as suggested: namely not to act,” Fischer asserted.
–Frankfurt bureau tel.: +49-69-720142. Email: jtreeck@marketnews.com
[TOPICS: M$$EC$,M$X$$$,M$$CR$,MGX$$$,MFX$$$$]
