Intervention was to punish speculators -Duisenberg

European Central Bank President Wim Duisenberg said on Thursday recent ECB forays into foreign exchange markets were not aimed at pushing the euro to any level but at punishing those speculating against the currency.

"I do want to underline that we do not have an exchange rate target, we have a price stability target, so interventions are not supposed to achieve a certain exchange rate," Duisenberg told the European Parliament's economic and monetary affairs committee.

"(Interventions) are mainly

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