Skip to: Content
Skip to: Site Navigation
Skip to: Search

July 5, 2008 4:53:50 PM CDT

Learn about Newser Points »

Back to the grid

G-7 Ministers Talk Tough on Sliding Dollar

Posted Apr 12, 08 7:26 AM CDT in Business,  Politics    Editor's Choice

(Newser) – The Group of Seven's finance ministers are getting more aggressive about stopping the greenback's decline, the Wall Street Journal reports. In what counts as blunt words for the group, a statement yesterday expressed concern about the plummeting dollar's "possible implications for economic and financial stability." The change in tone since the group's last meeting a year ago is aimed at sending a signal to traders; the ministers stopped short of using G-7 money to buy up dollars to push the currency upward.

Source Wall Street Journal

Editor Recommended

Related News

  • Dollar Hits 6-Week High Against Euro

    May 8, 08 6:12 AM CDT
    Dollar Hits 6-Week High Against Euro The dollar hit a six-week high against the euro yesterday, leading relieved policymakers on both sides of the Atlantic to hope that the worst is over, reports the Financial Times. Analysts still reckon that Washington will continue its policy of benign neglect: a soft dollar encourages exports and reduces the trade deficit. But one key reason US and European officials are teaming up to help the dollar: a weak American currency has reinforced spiking oil prices. More »

  • New York Loves Euros

    Feb 25, 08 11:35 AM CST
    New York Loves Euros Wander through the Big Apple these days and you’ll see signs like “Euros accepted!” and even “Euros Only.” The latter is a joke—dollars are accepted, as are British pounds—but many New York City merchants are more than willing to accept visitors' currency, the Washington Post reports. “I need euros,” said one street vendor. “The dollar’s going down.” More »

  • Dollar Gains Slightly Against the Euro

    Feb 25, 08 5:34 AM CST
    Dollar Gains Slightly Against the Euro European markets saw the US dollar edge higher against the euro, yen and British pound today as traders looked for clues as to whether the US economy would avoid a recession, reports the Associated Press. Today’s report on January sales of existing homes will likely cast some light on whether the subprime virus will continue to drag the economy down. More »

  • Big Apple Opens Arms to Euros

    Feb 7, 08 12:00 PM CST
    Big Apple Opens Arms to Euros The falling dollar has made the US a travel bargain, and some merchants in New York City have flung open their doors—and their tills—to the sudden influx of foreign currencies, Reuters reports. The euro, up 12% against the dollar in the past year, is particularly common. "Money is money,” said wine-store owner Robert Chu. More »

  • Is the Worst Over for the Dollar?

    Dec 27, 07 12:30 PM CST
    Is the Worst Over for the Dollar? After a year that saw the dollar slip to record lows against the euro and its weakest position in decades, the worst might be over for the beleaguered greenback. A survey of 42 strategists by Bloomberg found nearly unanimous consensus that the dollar is set for a gain, with a median prediction of a 3.5% rise against the euro, to $1.40, in 2008. More »

G7 Finance Ministers take part in the Ministerial meeting, Friday, April 11, 2008, at the Treasury Department's Cash Room in Washington.   (AP Photo/Gerald Herbert)
The G7 finance ministers and central bank governors walks down the steps of the Treasury Department in Washington for a group photo Friday, April 11, 2008. L-R   (AP Photo)
The G7 central bank governors pose for a group photo at the Treasury Department in Washington, Friday, April 11, 2008.   (AP Photo/Gerald Herbert)
The relative strength of the euro versus the dollar is hurting European economies.   (AP Photo)
prev    next
play

Threads (1 of 2)

Tags

US dollar  • finance  • euro  • currency  • weak dollar  • currency exchange  • Group of Seven


Loading...

Loading...

Related Thread: Not-So-Almighty Dollar

Next story from this section »

Today's Most Popular


Other Politics Stories

What is Newser?

2008 Codie Finalist

Newser gives you more news in less time. We search for the best and most important stories all over the web, read them for you, and deliver concise and sharp summaries—along with links to the full text. Newser provides a way to stay on top of an ever-expanding horizon of news and opinion—politics, sports, business, trends, technology, personalities, crimes, and controversies. Newser keeps you not just better informed, but, with our signature graphic interface and smart condensed format, more enjoyably informed.

Learn more »