Euro's strength appropriate for economic prospects: Coeure

FRANKFURT (Reuters) - Although the euro is almost 30 percent weaker against the dollar than at its peak, this is a valid reflection of the bloc's economic state and not a result of an effort to weaken it, European Central Bank board member Benoit Coeure told a newspaper.

President Donald Trump's top trade adviser last week claimed that Germany is using a grossly undervalued euro to take advantage of the United States, running up a huge trade surplus thanks to currency manipulation.

"The ECB has no specific exchange rate target," French newspaper Le Parisien quoted Coeure as saying on Tuesday. "The euro is now at a level that is appropriate for the economic situation in Europe."

(Reporting by Balazs Koranyi; Editing by Richard Borsuk)

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Trump threatens to bomb Oman over Iran stance
• Kerala's snake boat racers keep tradition afloat in face of floods and financial challenges
• Hormuz traffic slows as uncertainty over waterway persists