White House Denies Obama Said Strong Dollar A Problem

A senior U.S. official denied on Monday a news wire report that President Barack Obama had told a Group of Seven industrial nations' summit that the strong dollar was a problem.

Bloomberg News earlier quoted a French official as saying Obama had made the comment.

"The President did not state that the strong dollar was a problem," the U.S. official said. £He made a point that he has made previously, a number of times: that global demand is too weak and that G7 countries need to use all policy instruments, including fiscal policy as well as structural reforms and monetary policy, to promote growth."