Fall in dollar calls for 'collective vigilance': Breton

27th November 2006, Comments 0 comments

PARIS, Nov 27, 2006 (AFP) - A recent slide in the dollar against the euro and other major currencies calls for "collective viglance", French Finance Minister Thierry Breton said Monday as the US currency hit a 20-month low point against the euro.

PARIS, Nov 27, 2006 (AFP) - A recent slide in the dollar against the euro and other major currencies calls for "collective viglance", French Finance Minister Thierry Breton said Monday as the US currency hit a 20-month low point against the euro.

"The recent depreciation must trigger our broad collective vigilance," he told an economic seminar.

A fast appreciating euro is considered a threat to economic momentum in the 12-nation eurozone as it threatens make the bloc's exports more expensive and less attractive to foreign buyers.

Early on Monday, the euro soared briefly to a 20-month high point of 1.3179 dollars before falling back slightly.

Analysts have attributed the dollar's weakness to concern about a possible sustained slowdown in the US economy as well as to low trading volumes following the US Thanksgiving holiday week end.
 
Copyright AFP

Subject: French news

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