October 8, 2010 / 1:10 PM / 9 years ago

Euro is too strong at $1.4-Eurogroup President

WASHINGTON, Oct 8 (Reuters) - The euro exchange rate against the dollar is too strong at $1.4, as the dollar does not reflect the economic fundamentals of the United States, the chairman of euro zone finance ministers Jean-Claude Juncker said on Friday.

“The euro is too strong today,” Juncker told a meeting in Washington ahead of a meeting of finance ministers and central bankers of the Group of Seven most industrialised countries.

“I don’t think the dollar is in line with underlying fundamentals,” he said.

He also repeated the Chinese currency, the yuan, was undervalued but that the Chinese authorities did not share this view.

Reporting by Jan Strupczewski and Lidia Kelly

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