Trichet warns against global currency war

The president of the European Central Bank Jean-Claude Trichet has issued a warning against a possible global currency war.

Mr Trichet said sudden swings in foreign exchange rates "could threaten world economic growth".

The ECB has resisted imposing a cap on recent gains made by the euro - unlike Japan, China and the US - which have begun artificially devaluing their currencies to boost growth in exports.

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