UPDATE 2-Europe's Juncker to discuss soaring euro with Bush

(Updates with quotes, details and background)

By Marcin Grajewski and Dale Hudson

BRUSSELS, April 7 (Reuters) - The chairman of euro zone finance ministers said on Monday he would talk to U.S. President George W. Bush about volatility in foreign exchange markets which pushed the euro to record highs recently.

Jean-Claude Juncker also voiced concern about high inflation in the 15-nation euro zone despite an expected slowdown in economic growth this year.

"On Wednesday evening I will be meeting President Bush in Washington and talking about this very subject," Juncker told lawmakers in the European Parliament, referring to big swings in foreign exchange markets which have pummelled the dollar.

"I know Mr Bush and he knows me, so I am sure we will mention these problems ... I am sure we will be talking about monetary problems on both sides of the Atlantic," he said.

Juncker repeated there were no plans for a coordinated international action on foreign exchange markets -- a possible reference to central banks intervening on currency levels -- adding any unilateral action would be doomed to fail.

Juncker's meeting with Bush will precede talks among central bankers and finance ministers from the Group of Seven rich nations in Washington on Friday and Saturday.

They are expected to discuss a broad range of proposals aimed at restoring confidence in the banking system which has been hit by the fallout from the U.S. subprime mortgage crisis.