France says strong euro is a handicap, but has benefits

The strength of the euro against the dollar is a disadvantage, but also has certain benefits, a spokesman said Wednesday the French government.

Luc Chatel said that President Nicolas Sarkozy Gallic propose "a new international monetary organization to better reflect today's world" the Group of 20 richest nations in the world in 2011, when France takes over the presidency of the G-20.

Euro touches a maximum of 14 months versus dollar after EU production data

The euro hit a 14-month high against the dollar on Wednesday, boosted by data showing an acceleration in industrial production in the euro zone, while the dollar remained under selling pressure.
Industrial production in the euro zone rose in August at the monthly comparison and July was revised higher. Industrial production rose 0.9 percent in the month, which fell 15.4 percent year level.

The euro rose to a maximum of $ 1.4913 on trading platform EBS, its highest elevation since August 2008.
The dollar index fell to 75.452, also its lowest level since August last year.