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Strategies & Market Trends : The coming US dollar crisis
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To: RockyBalboa who wrote (8950)6/15/2008 8:08:16 AM
From: RockyBalboa  Read Replies (1) of 71403
 
Europeans want to prop up the yen....

UPDATE: France Fin Min: Would Be Good If JPY Rises Vs EUR
Sun, Jun 15 2008, 11:24 GMT
djnewswires.com

UPDATE: France Fin Min: Would Be Good If JPY Rises Vs EUR

(Adds comment from Lagarde on undervalued yen.)

JEJU, South Korea -(Dow Jones)- It would be very good if the yen could appreciate against the euro, French finance minister Christine Lagarde said Sunday.

She made the comment after coming out of a bilateral meeting here with Japanese finance minister Fukushiro Nukaga.

She said that she told Nukaga that wine produced in the French region of Burgundy, for example, would be much cheaper if the yen were higher against the euro.

European governments in recent months have been waxing particularly concerned about the strength of the euro against many other currencies because they fear it is overly damaging European international competitiveness.

Earlier in the day, Lagarde said "I believe that the yen is particularly undervalued."

Lagarde was in Jeju to attend a gathering of Asian and European ministers.

-By Gabriele Parussini, Dow Jones Newswires; (8180) 2051 3011, gabriele.parussini@dowjones.com.

(END) Dow Jones Newswires

June 15, 2008 07:24 ET (11:24 GMT)
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