Euro aerospace industry balks at weakness of U.S. dollar
Leaders of Europe’s aerospace industry met with the president of the European Central Bank (ECB) at its Frankfurt headquarters on July 10 to express their

Leaders of Europe’s aerospace industry met with the president of the European Central Bank (ECB) at its Frankfurt headquarters on July 10 to express their “deep concern regarding the impact on their industry of the rapid and extreme fluctuation of the U.S. dollar compared to the euro,” according to the AeroSpace and Defense Industries Association of Europe (ASD).

The euro hit fresh highs against the dollar in April and has eased little since (it now equals $1.58) because, while the U.S. and UK have headed toward recession and the U.S. has slashed interest rates, the ECB has held rates steady to hedge against inflation worries.