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| Subject: Germany Accuses US of Indirectly Manipulating Dollar Mon Oct 25, 2010 2:11 am | |
| German Economy Minister Rainer Bruederle on Saturday took issue with what he called a U.S. policy of increasing liquidity, saying it indirectly manipulated exchange rates.
The U.S. Federal Reserve is widely expected to embark on a fresh round of asset purchases to prop up the economy.
"There was criticism of the American policy of monetary easing, or creating more liquidity," Bruederle said after a meeting in South Korea of finance officials from the Group of 20 economic powers.
"I tried to make clear in my contribution to the discussion that I regard that as the wrong way to go," he said.
"An excessive, permanent increase in money is, in my view, an indirect manipulation of the (foreign exchange) rate."
Foreign exchange rates should be determined by markets, said Bruederle...
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