BRUSSELS (MNI) - Undervalued Asian currencies should be allowed to appreciate in an orderly way to ensure the stability and prosperity of the global economy, European Central Bank President Jean-Claude Trichet said on Monday.

The euro is currently trading around $1.48 against the dollar, well above the $1.40 level considered to be the pain threshold by eurozone exporters. Last month President Trichet visited China to encourage Chinese officials to allow the yuan to float more freely because European policy-makers think the rate is artificially low.

For a number of non-floating currencies, "particularly in Asia, at a level which is under assessed for a number of reasons, including interventions, a gradual ... an orderly appreciation" in relation to the dollar and to the euro would be in the "interests of global stability and prosperity," Trichet told the European Parliament here.

"It is extremely important that the US authorities mention and are very, very keen on repeating that the strong US dollar is in the interests of the United States and in the interests of the partners of the United States," he reiterated.