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While the visit of French President Nicolas Sarkozy was overall positive and made to underscore the renewed importance of U.S. - French relations, he still asserted the plunge in the value of the U.S. dollar against the Euro could end up generating a trade war.

Sarkozy, speaking at a joint session of the U.S. Congress said, "The dollar cannot remain `someone else's problem.' If we are not careful, monetary disarray could morph into economic war. We would all be its victims."

The strengthening of the Euro is more detrimental to France than it is to Germany, and so there isn't as much concern there on the Euro being weakened through dropping interest rates.

Of major concern to France and Sarkozy is the effect the devaluing of the U.S. dollar has on its airline industry, as they have the largest airplane manufacturer in the world, and claims they lose $1.5 billion every time the U.S. dollar drops in value by 10 cents against the Euro.

The spokeswoman for U.S. Treasury Secretary Henry Paulson reiterated his position on the U.S. currency, affirming it hasn't changed and that Paulson remains "strongly committed to a strong dollar."