US wants dollar to strengthen: Bush

LONDON: US President George W. Bush said in an interview published Tuesday that his government was concerned by the value of the US dollar, with the currency under extended pressure.

Speaking to The Times newspaper aboard his presidential aircraft, Bush said: "We want the dollar to strengthen."

According to the newspaper, he made no suggestion that the United States was preparing to intervene in the financial markets to strengthen the currency, which has fallen sharply in the past year against the euro as the world's biggest economy has slowed amid a housing slump and a related credit crunch.

He said he believed the "relative evaluations of economies will lead to that dollar strengthening."

The currency's depreciation has boosted US exports, but dampened imports as foreign-made goods have become more expensive for Americans.

Around 2100 GMT, the euro was swapping hands at 1.5642 dollars, down from 1.5777 dollars in New York late Friday.

Bush arrived in Slovenia on Monday, the first stop of what is seen as a farewell tour of Europe, hoping to persuade his hosts to apply more effective sanctions against Iran.

The week-long visit will also include an EU-US summit near the Slovenian capital of Ljubljana Tuesday, followed by trips to Germany, Italy, the Vatican, France and Britain.