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Attempts to target exchange rates risk setting off a currency war: ECB

The currency volatility comes at an especially sensitive time for the ECB as it prepares to remove stimulus after nearly three years and 2 trillion euros worth of asset buys

Reuters  |  DAVOS/FRANKFURT 

Attempts to target exchange rates risk setting off a currency war, a top European Central Bank executive argued on Friday, just days after U.S. officials made their case for a weaker dollar to boost trade. ECB board member Benoit Coeure said at the World Economic Forum in Davos that talks over exchange rates should be returned to the confines of global meetings like the G7 and the G20, as the recent public noise is proving unhelpful. "The last thing the world needs today is a currency war," Coeure said a panel at the World Economic Forum in Davos. "We live in a ...

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First Published: Fri, January 26 2018. 21:28 IST
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