Worried euro zone policymakers have called on the US government to do more to stop the dollar's decline. The region's finance ministers were meeting one day after the dollar hit yet another record low against the euro.
Eurogroup chairman Jean-Claude Juncker said he is increasingly concerned about the euro dollar exchange rate: "We still maintain that excessive volatility and disorderly movements in exchange rates are not desirable for economic growth and in the current circumstances we're going to closely observe exchange rate movements."
One euro is now worth $1.52, a year ago it was $1.28. Also occupying the finance ministers at their regular monthly meeting, substantially lower GDP growth and inflation at 3.2% last month.
At its weakest - back in 2000 - the euro bought just a little over 80 US cents. Currency analyst Gregory Moore commented: "When the single European currency was created we were fighting for a strong euro. Now we have it. The United States has learned how to cope with the weakness of the dollar as it tries to counter a possible recession in the US."
In 2000 the European Central Bank intervened in currency markets to stop the euro's slide, but there has been no public hint it might do the same now to push it in the opposite direction.
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