The head of the European Central Bank should be running the Federal Reserve because he is doing a better job at protecting his economy, investor Jim Rogers, CEO of Rogers Holdings, told "Squawk Box Europe" on Friday.

Japan's planned package of steps to help people and firms cope with high energy and food prices will total around $91.36 billion but involve only around 1-2 trillion yen in new spending, media reported.

Japanese inflation hit a new decade-high in July, topping market expectations and reinforcing views that high oil and food prices are dealing a blow to consumers as Japan faces a likely recession.

The U.S. dollar rallied against a currency basket Friday, on track for its best monthly gain in nearly 16 years, boosted by a batch of data showing a far more stable growth path for the United States than the rest of the world.

Governments across the world are grappling with how to boost dwindling economic growth, designing rescue packages aimed at fending off recession. Which country do you think is doing the best job?

The United States, Europe and Japan planned to intervene to rescue the dollar when it was plunging in March at the time U.S. investment bank Bear Stearns collapsed, the Nikkei business newspaper reported.

The U.S. dollar rose against the euro on Thursday, reversing previous declines, as stocks rallied on news of unexpectedly strong U.S. growth in the second quarter, easing concerns about the economy.

The U.S. dollar tumbled from six-month peaks against the euro on Wednesday, as comments by a European Central bank official rekindled speculation about an interest rate increase in the euro zone to quell persistent inflation pressure.

The U.S. dollar held gains on Tuesday after minutes from the last Federal Reserve meeting provided no surprises, highlighting both risks to the economic growth outlook and concerns about rising inflation pressures.

European Central Bank President Jean-Claude Trichet on Saturday defended central bank responses to the financial turmoil that has roiled global markets for the past year and warned the storm is not over.

The dollar dropped against the yen on Monday, pressured by sharp losses in the U.S. equities market as nagging credit worries prompted investors to trim risky trades.

The dollar surged on Friday, recovering from the previous day's losses, as gloomy British growth data backed views of a slowing global economy and raised prospects of interest rate cuts outside the United States.

Business activity in the euro zone unexpectedly stabilized at weak levels in August, while the plunge in crude oil eased inflationary pressure, bolstering the view that interest rates will stay on hold for now.

The dollar fell broadly Thursday as worries of wider credit-related losses at some U.S. financial firms made investors abandon risky trades, igniting a rally in the yen and Swiss Franc.

Mainland China became Japan's top export destination in July, helping the country shrug off sluggish sales to previous No.1 customer the United States.