VOLCKER SEES DOLLAR AS FACTOR IN MONETARY POLICY
Federal Reserve Board Chairman Paul
Volcker said the performance of the dollar in exchange markets
could be a factor in the U.S. central bank's decisions on
monetary policy.
    "The performance of the dollar in the exchange market might
become a factor bearing on our provision of reserves," Volcker
said in testimony to the Senate Banking Committee.
    He said that fiscal policy changes in the United States,
Germany and Japan would be more important that intervention to
instill confidence in current exchange rate levels.
                      
 Reuter
