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ECB UPDATE: Policymakers Cite 'Concerns' of Euro Overshoot

MNI (London)
By Jack Duffy
     PARIS (MNI) - European Central Bank policymakers expressed "concerns" about
a possible over appreciation of the euro in their most recent policy meeting on
July 20.
     According to the accounts of the meeting, released Thursday, policymakers
"remarked that the appreciation of the euro to date could be seen in part as
reflecting changes in relative fundamentals in the euro area vis-a-vis the rest
of the world."
     But "concerns were expressed about the risk of the exchange rate
overshooting in the future," according to the minutes
     More 
--MNI Paris Bureau; tel: +33 1-42-71-55-41; email: jack.duffy@marketnews.com
--MNI London Bureau; tel: +44 203-586-2225; email: les.commons@marketnews.com
[TOPICS: M$X$$$,M$$EC$]
MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com

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