28 November 2001, 12:30 Welteke: Euro Undervalued Against Dollar
Bundesbank President and ECB Council member Ernst Welteke returned to the old mantra in a Tokyo speech Wednesday - the euro is undervalued against the dollar. However,
Welteke did add the proviso that the markets must decide FX levels and
FX levels are not an ECB target. Welteke also added that he saw no
evidence of big price hikes due to the January changeover to euro notes
and coins.
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