Comments on: Slow growth and deficit stem lure of dollar Wed, 16 Nov 2016 01:37:11 +0000 hourly 1 By: The Real Deal Wed, 28 Oct 2009 01:44:09 +0000 “In recent comments, French Finance Minister Christine Lagarde stressed that she did not want to see the euro bearing the brunt of the downward adjustment of the dollar.”

Of course not. What she wants is most of other major currencies also rise against the dollar. This way the US gets to depreciate its currency in a more controlled manner, a preferred course given the dollar MUST be depreciated anyway. Therefore it is the task of G20 to manage a coordinated currency rise against the dollar, so the their own competitiveness is maintained. Doing this requires the best of G19 wisdom. G19 because the US has already decided on a course of depreciation and it will do it with or without G19 cooperation.