Times Online: President Bush issued a call for a rise in the value of the US dollar on currency markets today in a signal of mounting official alarm in Washington about the effect of the slumping greenback on the world’s largest economy… Mr Bush expressed concern about the dollar’s continuing weakness and said that he favoured an appreciation in the US exchange rate.

“We want the dollar to strengthen,” he said on Air Force One as it crossed the Atlantic bound for the summit.

Although the Bush Administration has said repeatedly that it supports a strong dollar, it has declined so far to take any direct action to support the currency.

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