Euro Impact on Gold, USD ... Message Board

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Gold/Mining/Energy : Euro Impact on Gold, USD ...

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To: banco$ who wrote (257)	2/1/1999 8:36:00 PM
From: banco$	Read Replies (1) of 289

"Euro slide no cause for concern - ECB's Duisenberg" - CHICAGO, Feb 1 (Reuters) - European Central Bank President Wim Duisenberg said on Monday he was not concerned about the euro's decline to a fresh record low under $1.13. Asked by reporters if he had any worries about the weakness of the euro, Duisneberg replied, ''No, none whatsoever.'' He attributed the euro's gradual slide to current trading levels from its January 4 launch at $1.1747 to ''the remarkable positive developments in the United States economy.'' Duisenberg, speaking after addressing the Chicago Council on Foreign Relations, reiterated that despite recent weak economic data out of Europe, lower interest rates were not justified at this time. Asked if he saw a need to cut rates, Duisenberg replied,'' ''Not for the time being."

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