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Dollar Hits New Low as Economic Woes Continue

RENEE MONTAGNE, Host:

But as Eleanor Beardsley reports from Paris, some European analysts are expecting relief for the dollar.

ELEANOR BEARDSLEY: European Central Bank president Jean-Claude Trichet says his responsibility is to ensure stability while avoiding additional volatility, which could lead to inflation. The interest rate differential has caused short term investments to flow out of U.S. dollars and into euros, worsening the dollar's slide, says Hans Redeker, an analyst with investment bank Paribas. But Redeker believes an end to the dollar crisis is in sight.

MONTAGNE: What we are going to see in the next few weeks and months or so, weaker economic activity in Europe, and the European Central Bank has to address that as well in its assessment of monetary policy.

BEARDSLEY: For NPR News, I'm Eleanor Beardsley in Paris. Transcript provided by NPR, Copyright NPR.

NPR transcripts are created on a rush deadline by an NPR contractor. This text may not be in its final form and may be updated or revised in the future. Accuracy and availability may vary. The authoritative record of NPR’s programming is the audio record.

Eleanor Beardsley began reporting from France for NPR in 2004 as a freelance journalist, following all aspects of French society, politics, economics, culture and gastronomy. Since then, she has steadily worked her way to becoming an integral part of the NPR Europe reporting team.

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