No relief for Europe as G20 shuns action to halt dollar slide
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The Group of 20 finance chiefs have shunned action to halt the dollar slide, leaving Europe isolated at the end of a forum here and facing an almost certain further strengthening of the euro.
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EUROPEAN Union finance ministers today pressed for action by the US to prop up the dollar as eurozone nations expressed their deep disquiet at the parlous state of America&#39;s national finances.
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BRUSSELS  - European Union finance ministers pressed for action by the United States to prop up the dollar as eurozone nations expressed their deep disquiet at the parlous state of America&#39;s national finances.
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The dollar has been trading at, or close to, its all-time low in European currency markets, prompting calls for the European Central Bank to intervene to stop the dollar&#39;s slide against the euro.
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The dollar hit a fresh low against the euro on Monday after comments from a eurozone finance minister quashed currency traders&#39; speculation about intervention
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German Chancellor Gerhard Schroeder on Saturday labeled the US dollar&#39;s weakness against the euro &quot;worrying,&quot; but increasingly worried European leaders appeared unlikely to get help from the United States and Asia at a meeting of industrial and developing
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The euro wavered after failing to pierce the symbolic 1.30-dollar threshold, as eurozone officials expressed disquiet at the currency's rise to record highs against the greenback.
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The dollar fell to a record against the euro and dropped against the yen yesterday as Treasury Secretary John W. Snow signaled that he would not back any agreement to stem the currency&#39;s slide.
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The dollar fell against the pound and the euro yesterday, prompting calls for intervention to support the dollar from several European finance ministers.
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The dollar fell against the euro and the  yen on Wednesday in the wake of comments from the European  Central Bank president suggesting the ECB was unlikely to  intervene to stem the euro's rise.
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The dollar fell to a record against the euro and tumbled versus the yen on speculation US officials will refrain from joining any effort to stem the currency&#39;s drop.
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The dollar was near record lows against  the euro and its lowest level since March 2000 versus the yen  on Monday after a meeting of the Group of 20 rich and  developing nations suggested no effort to stem the dollar's  decline.
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The euro dipped on Tuesday after more  European officials called for Asian economies, particularly  China, to take on a bigger share of the dollar's weakness and  let their currencies rise.
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The US dollar has continued its record-breaking slide and has tumbled to a new low against the euro. Investors are betting that the European Central Bank (ECB) will not do anything to weaken the euro, while the US is thought to favour a declining dollar.
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BERLIN: A communique from the G20 group of rich and developing countries made no explicit reference to currency swings on Sunday, despite mounting concern in Europe and Japan over a slide in the US dollar to multi-year lows.
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The dollar plunged to an all-time low  against the euro on Wednesday ahead of an upcoming G20 finance  ministers' meeting in Berlin, as analysts fretted that  officials would do little to stem the greenback's fall.
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A communique from the G20 group of rich  and developing countries made no explicit reference to currency  swings on Sunday, despite mounting concern in Europe and Japan  over a slide in the U.S. dollar to multi-year lows.