ECB's Duisenberg prays for gradual dollar decline

Wim Duisenberg has said that a fall in the dollar was "unavoidable" considering the "huge" trade deficit the United States has. The outgoing ECB president said in an interview "We hope and pray that this adjustment, which is unavoidable, will be slow and gradual. We will do everything in our power to make it slow and gradual. Until now, the adjustment is only against the euro."

Source: Financial Times

The European Central Bank is unlikely to intervene to temper the euro's appreciation against t

To continue reading...

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: