Gold9472
11-14-2007, 09:36 AM
US dollar will get stronger: Bush
http://afp.google.com/article/ALeqM5hcJlB-6eH01crxDRTm9ufIeLdTkw
11/14/2007
NEW ALBANY (AFP) — US President George W. Bush predicted in an interview Tuesday that the battered US dollar will get stronger because the US economy is robust.
"If people would look at the strength of our economy, they'd realize why, you know, I believe that the dollar will be stronger," Bush told the Fox Business Network.
"We have a strong dollar policy, and it's important for the world to know that. We also believe it's important for the market to set the value of the dollar relative to other currencies," the president said.
Bush cited low US inflation figures, modest interest rates, job growth, and gross domestic product growth and declared "the underpinnings are strong."
Asked whether he was satisfied with current exchange rates, Bush replied: "I am satisfied with the fact that we have a strong dollar policy and know that the market ought to be setting the exchange rate."
The dollar has been weakening against the fast-appreciating euro in recent months. In European trade Tuesday, the euro climbed to 1.4599 dollars, compared to its rate of 1.2806 dollars a year ago.
http://afp.google.com/article/ALeqM5hcJlB-6eH01crxDRTm9ufIeLdTkw
11/14/2007
NEW ALBANY (AFP) — US President George W. Bush predicted in an interview Tuesday that the battered US dollar will get stronger because the US economy is robust.
"If people would look at the strength of our economy, they'd realize why, you know, I believe that the dollar will be stronger," Bush told the Fox Business Network.
"We have a strong dollar policy, and it's important for the world to know that. We also believe it's important for the market to set the value of the dollar relative to other currencies," the president said.
Bush cited low US inflation figures, modest interest rates, job growth, and gross domestic product growth and declared "the underpinnings are strong."
Asked whether he was satisfied with current exchange rates, Bush replied: "I am satisfied with the fact that we have a strong dollar policy and know that the market ought to be setting the exchange rate."
The dollar has been weakening against the fast-appreciating euro in recent months. In European trade Tuesday, the euro climbed to 1.4599 dollars, compared to its rate of 1.2806 dollars a year ago.