Dollar weakness

"European officials said the two sides were holding increasingly antagonistic views. European governments and central bankers are increasingly concerned about the problem while US officials insisted there were no grounds to act.

The growing rift was highlighted on Tuesday when Alan Greenspan, chairman of the US Federal Reserve, played down the dollar's weakness and repeated his view that he saw no problem in funding US deficits....

Most analysts believe the Bush administration favours a weaker dollar to help domestic exporters and narrow the ballooning trade deficit. It would be loath to see a dollar rise just ahead of the presidential election."

Reminds me of the '80s

FT