Corporate foreign exchange news

Published by Mark Smith-HalvorsenThe president of the European Central Bank (ECB) Jean-Claude Trichet has given his support to the Obama Administration's campaign for a stronger dollar, with the banking chief declaring that a solid greenback is in the interest of global stability.Reuters quoted Mr Trichet as saying: "I believe that the strength of the dollar within the set of floating currencies is in the interest not only of the United States, but of the entire international community."His comments came as President Obama concluded his tour of Asia, where the strength of the yuan was a major point on the agenda.China has been accused of keeping the value of its currency at artificially low levels in order to boost exports during this period of anaemic demand.For companies who are struggling to make international payments during this difficult period, seeking out the best foreign exchange deals may prove an invaluable cost efficiency.For more information on international payments, visit our Smart FX site