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M. Continuo

White House denies Obama said strong dollar a problem


    KRUEN, Germany (Reuters) - A senior U.S. official denied on Monday a news wire report that President Barack Obama had told a Group of Seven industrial nations' summit that the strong dollar was a problem.

    Bloomberg News earlier quoted a French official as saying Obama had made the comment.

    "The President did not state that the strong dollar was a problem," the U.S. official said. £He made a point that he has made previously, a number of times: that global demand is too weak and that G7 countries need to use all policy instruments, including fiscal policy as well as structural reforms and monetary policy, to promote growth."

    (Reporting by Jeff Mason; Writing by Paul Taylor)