Euro is too low for germany?s economy, schaeuble says _ digitallook. com
Germany?s finance minister cautioned the European Central Bank that its expansionary policies would drive an excessive depreciation of the single currency for Germany?s needs, bolstering its trade surplus, before it embarked on its looser monetary policy.
Speaking to Germany?s Tagesspiegel, on Sunday, Wolfgang Schaeuble said that: “the euro exchange rate is, strictly speaking, too low for the German economy’s competitive position.
“I promised then not to publicly criticise this (policy) course. Binary code converter But then I don’t want to be criticised for the consequences of this policy,” Schaeuble reportedly said.
Michael Hewson, chief market analyst at CMC Markets UK, said: “The timing of the comments is no coincidence given last week’s broadside by Peter Navarro, Donald Trump’s chief trade advisor, and are clearly an attempt to try and deflect some of that criticism.
“At the beginning of this year the US dollar index hit its highest levels in 14 years, and since then it has slowly started to slip back, despite the fact that US economic data has by and large been positive, while Fed policymakers have suggested that we could well see multiple rate rises this year.”
London stocks closed higher on Tuesday as the pound weakened and as housebuilding stocks rebounded after the government released a strategy to solve the housing crisis.
Shares ended on a mixed note following a series of corporate earnings, amidst investor concern about political risks on the continent and a big move lower for the single currency.
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Niche venture capital provider B.P. Usd stock Marsh updated the market on trading for the group’s financial year ended 31 January on Tuesday – a period in which it realised its Besso investment, made follow-on investments in Nexus and LEBC, invested in Asia Reinsurance Brokerage and made start-up MGA investments in Fiducia in the UK and SSRU in Canada.
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