Trichet says euro's record rise 'not welcome'

- Central Banking staff
- 08 Nov 2004

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Economic growth "remains very steady," European Central Bank President Jean-Claude Trichet said at a briefing after a meeting in Basel, Switzerland, of the G-10 group, which he chairs. "Perhaps we're going to a level that's more sustainable in the medium to long term."

Trichet said the euro's recent appreciation to a record against the dollar was ``not welcome,'' signalling increased concern a stronger currency will hurt the region's economy.

``I would only say that the recent moves, which tend

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