"It is a very good thing, and it is good because it was a coordinated intervention," said Martin Kohlhaussen, president of Commerzbank of Germany.
Mr. Duisenberg electrified financial markets on Friday by arranging and announcing a coordinated intervention supported by central banks in the United States, Japan, Britain and Canada.
Six weeks ago, the European Central Bank stirred world markets when it announced a coordinated intervention on behalf of the euro, supported by the United States Treasury.
4.08pm BST Brazil GDP beats expectations Over to Brazil, one of the countries touted to take part in a coordinated intervention in offshore currency markets, where GDP growth came in higher than expected.
It is the first time since 2000 that the Group of 7 nations has made a coordinated intervention into the currency markets, then to stabilize the euro.
Lower oil prices, as a result of coordinated intervention to save the dollar, will help to cool inflationary pressures, giving central banks some room to adjust monetary policy.
Critics of the ECB's stance have argued that low rates of inflation reflect the weakness of the economy and have called for a more coordinated intervention to boost investment and bolster consumer confidence.
"There is no reason to exclude international agreement and coordinated intervention as a means of dealing with an overvalued dollar, in part as a way to prevent an excessively sharp adjustment later on," Mr. Jasinowski, the manufacturers' representative, said.
Collaborating agencies must have the resources necessary to handle an increased number of referrals for coordinated intervention, or efforts by programs such as ours will not result in desired outcomes.
