Euro zone policymakers pressured Washington today to do more to halt the dollar's decline, a day after the US currency hit a record low against Europe's single currency.
Guy Quaden, Belgium's representative at the European Central Bank, said in an interview: "Things are becoming exaggerated. It's up to the relevant authorities to assume their responsibilities and particularly for US authorities, who repeat that they are in favour of a strong dollar but who should reaffirm their words."
The Europeans are worried that the slide is getting out of hand after the dollar sank below $1.50 per euro last week.
French Prime Minister Francois Fillon added his voice to the rising chorus of complaint at a Brussels meeting of the euro zone's finance ministers and ECB President Jean-Claude Trichet.
"There is a problem in the relationship between the dollar and the euro," he said, adding exchange rate developments were partly to blame for the rising price of commodities, which from oil to wheat are soaring.
The euro, which bought just a little more than 80 US cents at its weakest back in 2000, hit a record $1.5275 today according to Reuters.
In 2000 the ECB intervened in currency markets to stem the euro's slide, but there has been no public hint that it might do the same now to push the exchange rate in opposite direction.