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		G7 positions on dollar ahead of Florida meeting Friday January 30, 11:59 am ET LONDON, Jan 30 (Reuters) - Finance ministers and central bankers from the Group of Seven (G7) most developed economies are scheduled to meet in Florida on February 6 and 7 amid concern about the steep fall of the U.S. dollar. Following is a snapshot of developments and key facts: LATEST NEWS * The dollar fell against the euro on Friday after a surprisingly lower than expected fourth quarter U.S. gross domestic product report triggered a sell-off. * A continued strong rise in the euro could undermine clear signs of recovery in the euro zone and reduce competitiveness, European Monetary Affairs Commissioner Pedro Solbes said on Friday. * Japan spent a record 7.1545 trillion yen in currency intervention in January -- equivalent to $67.56 billion at Friday's rate -- to stem the yen's rise against the dollar, Finance Ministry data showed. * BOJ Deputy Governor Toshiro Muto said on Friday the weak dollar and continuing deflation are concerns for Japan's economic recovery, making it necessary for the central bank to push on with its ultra-loose policy. * ECB Governing Council member Ernst Welteke said on Thursday the strength of the euro permits the European Central Bank to keep borrowing costs low. KEY QUOTES "There is clearly a growing recovery (in the euro zone) at the moment," European Monetary Affairs Commissioner Pedro Solbes said on Friday. "The strong appreciation of the euro, if it continues, could undermine business confidence and reduce competitiveness," he said. "It is probable the recent strength in the euro could affect the growth of exports and economic activity will be boosted by a recovery in internal demand". --- "There was no change to our basic economic scenario," BOJ Deputy Governor Toshiro Muto told a business seminar. "So why did we ease policy? No end to deflation was seen and there are the effects of the weak dollar. We need to make our position very clear to the market.". --- "The strong euro makes it possible for European monetary policy to keep interest rates relatively low," ECB Governing Council member Ernst Welteke said in a speech at an event hosted by the Bundesbank.   Back to Original Article: Mortgage News You Can Use   Continue with: U.S. Economy Grew at Slower-Than-Forecast 4 Percent Rate in Fourth Quarter Economy Grows at 4% Rate in Final Quarter of 2003 Economic Growth Report Pulls Down Dow 32 Treasuries Slip on Strong Chicago PMI Dollar Falls on Lower-Than-Expected GDP Fed, economists see improvement Hire expectations Dollar Firms, Buoyed by Economic Data Part One Dollar Firms, Buoyed by Economic Data Part Two Treasuries Up as Growth Falls Short Treasuries Up as Growth Falls Short part two
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