France’s finance minister has called for debate about the strength of the euro, as the currency neared a seven-week peak against the U.S. dollar on Tuesday.
The euro zone currency hit $1.3944 on Tuesday, a smidgen off its year-peak of $1.3965, reached in March. Since the start of the year, the euro has risen 1.37 percent against the dollar, and it is 5.67 percent higher versus the greenback since the start of 2013.
Michel Sapin, the French finance minister, said euro zone members needed to openly discuss the strength of the euro and its potentially negative impact on the regional economy. A stronger euro makes euro zone exports more expensive in the global market, thereby hindering the euro zone’s efforts to grow and regain its competitiveness.
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