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MNI BREIF: Eurogroup To Discuss FX Developments Next Week

LONDON (MNI)

Eurogroup finance ministers will discuss the recent developments in the forex markets when they meet next week, MNI understands, Their focus will likely be on the strength of the euro against the U.S. dollar in recent months, which saw the pair hit a high of USD1.2011 on Sept 1, before falling to the current USD1.1725.

An EU source said the discussion would be in the context of "broader economic developments" ahead of this autumn's IMF and WB meetings.

MNI has highlighted in recent weeks how the strength of the euro is a policy issue for the ECB, even though they don't target the rate directly, although their concern may be less at current levels.

MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com
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MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com
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