Markets focus too much on dollar says Weber

The financial markets are putting too much focus on the declining dollar, Bundesbank President Axel Weber said Friday 28 January.

"The dollar foreign-exchange rate is the wrong focus, we should focus on effective exchange rates and bilateral exchange rates," Weber told reporters after a luncheon at the World Economic Forum.

He noted that since 1999 Germany has gained 6 percent in price competitiveness compared with the rest of the euro zone. Italy, by contrast, has lost 12 percent.

"We talk to