U.S., Europe Want Dollar To Strengthen

London–The U.S. and Europe both want to see the dollar strengthen against the euro, according to the Financial Times.Senior officials told the London-based paper that policymakers want the dollar–which at one point this week hit a six-week high against the euro–to recover because they’re worried the currency markets have been

London–The U.S. and Europe both want to see the dollar strengthen against the euro, according to the Financial Times.Senior officials told the London-based paper that policymakers want the dollar–which at one point this week hit a six-week high against the euro–to recover because they’re worried the currency markets have been focusing too on short-term economic weakness in the U.S.Senior eurozone officials feel that the dollar-euro rate had risen to levels that would fail to help either the U.S. or Europe, the Times said. The officials want to sidestep a situation in which the dollar could plunge too far before rebounding when investors see that the U.S. is not entering a depression and Europe’s economy is not weakening–which could hurt global financial markets.