–Reiterates Usual G20 Mantra On FX – Disorderly FX Moves Adverse
–Shares US View On Interest In A Strong Dollar
LONDON (MNI) – Exchange rates will be discussed when central bank
governors the G20 economies meet in Washington in a few days time,
European Central Bank President Jean-Claude Trichet said today.
Pressed on the issue of ‘currency wars’, Trichet reiterated the
traditional G20 oposition on exchange rates:
“I would only say that, more than ever, I think that exchange rates
should reflect economic fundamentals. Excess volatility and disorderly
movements in exchange rates have adverse results for economic and
financial stability and, we will have an occassion to exchange views on
that with, in particular the authorities, the central bank governors and
the ministers of finance of the major floating currencies in Washington
in a few half days. I share the view of the US authorities when they
reiterate that they trust that a strong dollar is in the interest of the
United States of America.”
–London newsroom: 0044-207-634-1624: email: ukeditorial@marketnews.com
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