Gonzalez-Paramo says ex rate volatility excessive

Jose Gonzalez-Paramo, a member of the European Central Bank's governing council, said the ECB sees the volatility of the euro/dollar exchange rate as "excessive" after the euro broke the psychologically important 1.3 dollar threshold.

Sharp and sudden movements in the currency markets are not welcome to the ECB, he told journalists on the sidelines of a financial forum.

Gonzalez-Paramo declined to comment on the US Federal Reserve Board's decision to raise the federal funds rate by a quarter