MUNICH Oct 15 The euro is trading within a
relatively normal band in foreign exchange markets at the
moment, European Central Bank Executive Board member Peter Praet
said on Tuesday, indicating it is not a great worry for the
Praet, who has the powerful economics portfolio within his
remit, also said that U.S. budget problems were not affecting
the central bank's monetary policy yet.
"We are in a relative normal range in euro foreign exchange
rate," Praet told reporters after a speech at the Bavarian
"I don't see for the time being any impact from the U.S. on
our monetary policy ... it's marginal and we hope it will be
Praet added that he was confident that a solution would be
found and that reason would prevail. But he also repeated ECB
President Mario Draghi's words, saying that if no solution is
found, it would have catastrophic consequences.