Friday, October 19, 2007

Be wary of 'one-way' forex bets, euro official warns

From MarketWatch:

As expected, the communiqué handed down by the finance ministers and central bankers of the Group of Seven industrialized nations Friday night made no specific mention of the declining U.S. dollar or the weak Japanese yen, but European officials appeared to again put currency traders on warning.

Jean-Claude Juncker of Luxembourg, who heads a group of finance ministers from the nations that participate in the European single currency, said ministers and bankers took note of remarks by Treasury Secretary Henry Paulson that a stronger dollar is in the interests of the United States....MORE