Friday, November 19, 2004

US dollar weakness worries EU

Outgoing European Union Trade Commissioner Pascal Lamy says the US dollar is falling too rapidly in the face of massive budget and current account deficits in the United States.

Mr Lamy says the weakness is worrying, but he says the trend is hardly surprising considering the level of the US deficits.

While the US Treasury continues to insist the Bush administration favours a strong dollar, foreign exchange markets assume

Mr Lamy's term as EU Trade Commissioner ends this weekend.

By End The Occupations 19 November 04