Comments made by Jean-Claude Trichet, the European Central Bank president, at the G10 meeting held on March 10, 2008 in Basel, Switzerland, caused a dip in the value of the Euro and other major currencies against the U.S. Dollar. According to Trichet, “excessive volatility and disorderly movements in the exchange rates are undesirable for economic growth.” While his remarks were similar to those he made last Thursday after the European Central Bank made the decision not to cut interest rates, this time, his commentary was considered stronger.