Sarkozy says euro strength a problem for competitiveness, appreciates Fed policy

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Sarkozy says euro strength a problem for competitiveness, appreciates Fed policy

PARIS (Thomson Financial) - French President Nicolas Sarkozy said the euro's rise above 1.40 usd is a problem for the competitiveness of the euro zone. 'I am not saying that it is dangerous...but of course, a dollar at 1.40 to the euro is a problem for the competitiveness of our economies,' he said in an interview with the International Herald Tribune. A transcript of the interview was published on the newspaper's website. Sarkozy said he 'appreciated' the policy of the US Federal Reserve, which last week cut interest rates in response to concerns about the economic impact of the recent turmoil in financial markets. 'I am saying that I appreciate the policy of the Federal... Full Story

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