On Bloomberg this evening U.S., Seeking Smaller Deficit, Signals Comfort With Dollar Drop May 15 (Bloomberg) -- The Bush administration, seeking to narrow its near record trade deficit, is signaling comfort with the dollar's 6.6 percent decline this year. http://quote.bloomberg.com/apps/news?pid=10000006&sid=aOZVD0xr9eSM&refer=home --RS
WSJ ran the same story, idea that the G7 wants a weaker dollar has been flating around for several weeks.