FRANKFURT, Feb 5 - ECB President Jean-Claude Trichet again warned Thursday of the risk of excessive exchange rate movements, but declined comment on what action the G7 finance ministers might take on currencies at this week's meeting. "With regard to exchange rates we again particularly stress stability and express concern about exaggerated exchange rate movements," Trichet told a press conference after the European Central Bank had held interest rates unchanged at their meeting.
But he added "It is not my tradition ... to announce in advance anything as regards the G7. I will give you a rendezvous after the meeting of the G7 in Florida and we will have the usual and customary press encounter to explain the communique." Finance ministers and central bankers from the Group of Seven (G7) most developed economies are scheduled to meet in Florida on Friday and Saturday. Despite European worries that the high level of the euro is a risk their exports, markets are increasingly doubtful that there will be any major initiative at the meeting to counter the fall in the dollar.//www..com