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Europe and Latin America were affected by adverse currency moves.
Previously Mr. Trichet has used stronger terms like "brutal" to describe currency moves.
Both tactics acknowledge a phenomenon that occurs when one currency moves sharply against another.
That's because of the nature of bonds and the risks in currency moves.
Such investments have risks, with currency moves and political upheaval in some emerging economies.
However, sudden currency moves can be devastating for companies and individuals who have borrowed abroad.
And that still leaves lots of other firms which are exposed to currency moves.
"Disorderly and excessive currency moves pose a negative impact on the economy and financial stability," he said.
Global macro—Investing in shifts between global economies, often using derivatives to speculate on interest-rate or currency moves.
With the U.S. Treasury decision looming, China faces a tricky test in deciding when to make any currency moves.
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Earlier headlines Yahoo Says Holiday Shopping Rose 86% Kmart Says Holiday Sales At Low-End Of Forecasts OPEC Likely To Announce Oil Cut Friday Argentines Fear Devaluation From Currency Moves.
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