French FinMin: Euro too strong

French Finance Minister Pierre Moscovici said in an interview for France 2 television on Sunday that in his opinion the euro was perhaps too strong, boosted last week by signs of improvements in Eurozone’s economic situation as well as the latest decent US NFP report.

Moscovici was worried the currency’s excessive strength might hurt exports. He nevertheless added that he is confident about the French economy and that the 0.8% growth target, established for 2013, could be reached.

Moscovici’s comments caused the euro to drop against the dollar to $1.3597.