G7 Sticks to Currency Policy
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The G7 wealthy nations on Saturday predicted solid economic growth and subdued inflation this year while repeating currency declarations that some economists believe could limit the dollar's decline.
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German Finance Minister Hans Eichel declined to provide additional comment on currencies when pressed at the closing news conference of a G20 meeting of rich and developing countries in Berlin on Sunday.
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Hungary will stick to its new euro   plan, endorsed by the European Commission on Tuesday, after   years of huge budget deficits derailed earlier hopes to join   the single currency, Prime Minister Ferenc Gyurcsany said.
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LONDON, Oct 22  - The euro held its ground against the dollar here Friday as the US currency was hampered by comments from Federal Reserve officials that suggested US interest rates might stay where they are for a while.
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Some world leaders say they will not be pressured into following economic policies prescribed to them.
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The dollar was in striking distance of record lows against the euro and 7-    month lows versus the yen on Thursday, as traders concluded that nations at an upcoming G20 meeting would tolerate a weaker dollar.
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Europe and the United States kept up a war of words over the sliding U.S. dollar at a G20 meeting of rich and developing nations, blaming each other for the currency's fall and avoiding new steps or rhetoric to halt it.
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A statement from the Group of Seven rich  nations on foreign exchange due later on Saturday will have  very similar wording to the communique adopted last year in  Boca Raton, Florida, a G7 source told Reuters.
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With the European economy on the upswing, companies and governments are shrugging off the dollar's renewed slide against the euro this week - a phenomenon once dreaded as potential poison for the continent's ...Comment
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The G7 wealthy nations on Saturday  predicted solid economic growth and subdued inflation this year  while repeating currency declarations that some economists  believe could limit the dollar's decline.
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Global policy-makers may be starting to accept a weaker dollar as perhaps the only policy option left to correct the record US external deficits and keep the world&#39;s economic recovery on track, analysts say.
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The dollar stuck to tight ranges on Tuesday ahead of a Federal Reserve interest rate decision and a gathering of Group of Seven finance ministers and central bankers late in the week.
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The dollar is dipping again. After falling against major currencies such as the euro, yen, and Canadian dollar in 2002 and 2003, the greenback stabilized this year.
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A statement from the Group of Seven rich nations on foreign exchange due later on Saturday will have very similar wording to the communique adopted last year in Boca Raton, Florida, a G7 source told Reuters.
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Finance ministers and central bank  chiefs from the world's 20 biggest economies voiced concern on  Saturday over sudden currency swings, venturing for the first  time into the territory of the more influential Group of Seven.
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ESSEN, Germany  - The G7 economic powers urged China on Saturday to loosen state control of its exchange rate and addressed a slide in the yen by urging financial markets to take account of Japan's strengthening economy.
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With the European economy on the upswing, companies and governments are shrugging off the dollar's renewed slide against the euro this week _ a phenomenon once dreaded as potential poison for the continent's ...Comment