Euro drop in 2000 was normal dip - Fed's Poole

EUROPE - The euro's weakness against the dollar last year was a "perfectly normal" dip of a sort which all currencies suffer from time to time, Federal Reserve Bank of St. Louis President William Poole said on Mar 27, 2001.

Poole also said in a speech in Prague that higher growth in Europe depended on microeconomic reforms and not simply an expansionary monetary policy. "There was a certain amount of anguish last year as the euro depreciated against the dollar, but that happens from time to ti

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