Bloomberg News

ECB’s Nowotny Says Euro-Dollar Exchange Rate ‘No Major Concern’

January 16, 2013

European Central Bank Governing Council member Ewald Nowotny said the current exchange rate of the euro against the dollar is not a concern for him and he doesn’t expect the currency to keep appreciating in the longer term.

“One shouldn’t overvalue short-term fluctuations of exchange rates,” Nowotny told journalists on the sidelines of a Euromoney conference in Vienna today. “I don’t see a perspective of a longer-term trend, therefore it is from my point of view not a matter of major concern.”

To contact the reporter on this story: Boris Groendahl in Vienna at bgroendahl@bloomberg.net

To contact the editor responsible for this story: Frank Connelly at fconnelly@bloomberg.net


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