10 December 2003, 16:39 Euro near long-term averages
FRANKFURT, Dec 10 - European Central Bank President Ernst Welteke said on Wednesday that the euro currency, which is setting daily records against the dollar, is near its long-term average and it should not harm competitiveness.
Speaking to reporters after the Bundesbank's traditional end-of-year news conference, Welteke said: "The euro's foreign exchange rate is not far removed from its long-term average and that is why there should be no major consequences for competition."//
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