First Prime Group: Dollar Drop Is of Deep Concern

July 23, 2008 - PRLog -- “First Prime Group” Asian business leaders, who met with Jean Claude Trichet in Frankfurt recently, expressed deep concern on the US Dollar’s value against the Euro according to a statement from the Aerospace and Defense Industries Association of Europe.
A source close to “First Prime Group” said that the single currency’s inexorable rise against the dollar in the past year has made European exports more expensive.
“First Prime Group” pointed to recent reports showing the euro's increase is threatening the European economic expansion with German and French exports both declining in May. Jean ClaudeTrichet told the European Parliament recently that ``it is very important that U.S. authorities repeat that a strong dollar is in the interest of the U.S.''
It is ``important that we look very carefully at adverse effects of excessive fluctuations'' of exchange rates on growth, Trichet said.

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