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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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To: Elroy Jetson who wrote (15217)11/9/2004 11:22:22 AM
From: mishedlo  Read Replies (1) of 116555
 
Belgium´s Quaden says any further euro rise ´would not be desirable´ UPDATE
Tuesday, November 9, 2004 9:51:16 AM
afxpress.com

Belgium's Quaden says any further euro rise 'would not be desirable' UPDATE (Updates to add further comments, background)
BRUSSELS (AFX) - Belgian National Bank governor Guy Quaden said any further rise of the euro against the dollar would be undesirable

In an interview with Belgian newspaper De Tijd, Quaden said: "It would not be desirable that the appreciation of the euro should continue, still less that it should accelerate." He added: "The governors of the European Central Bank are still... against exaggerated volatility in exchange rates." The comments by Quaden, who is a member of the ECB's rate-setting governing council, follow bank president Jean-Claude Trichet's warning yesterday about "brutal" currency movements

Quaden also said: "Furthermore, the United States must reduce its budget and current account deficit as quickly as possible, European countries must raise their growth potential and Asian countries (must) ease their exchange rate policy." He said there was no ideal world of exchange rates, and that so far the strength of the euro had offset the impact of high oil prices
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And the easter bunny must keep delivering free chocolate bunnies to Elroy Jetson

Mish
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