19.9 C
New York
Saturday, October 16, 2021

Currency war is last thing world needs: ECB’s Coeure

Currency war is last thing world needs: ECB's CoeureCurrency war is last thing world needs: ECB’s Coeure

DAVOS (Reuters) – Major economies should not target their exchange rates for competitive purposes and discussions among policymakers over currencies should be confined to official fora, European Central Bank board member Benoit Coeure said on Friday.

“The last thing the world needs today is a currency war,” Coeure said a panel at the World Economic Forum in Davos. “We live in a world of floating exchange rates, we live in a world where exchange rates are not and should not be targeted for competitive purposes.

“We see lots of volatility created recently by different statements and I think that’s just not helpful,” Coeure said. “Volatility is not helpful and if that would reach a point where it would create any unwarranted consequence for us, any unwarranted tightening for monetary policy, we would have to reassess.”

Coeure’s comments come after U.S. officials earlier this week made the case for a weak dollar, sending the greenback tumbling against the euro.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Source: Investing.com

Related Articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Stay Connected

10,814FansLike
12,893FollowersFollow
756FollowersFollow
- Advertisement -

Latest Articles

Popular Articles