Dollar down - Euro Up

[Rolo]

Bush, Inc. keep talking the dollar down... Just took a new hit this morning vs. Euro after this comment by Federal Reserve Governor, Ben S. Bernanke:

Bernanke added he did not see much chance of a crisis developing in which the value of the U.S. currency kept plunging.

http://story.news.yahoo.com/news?tmpl=stor...ets_global_dc_1 (http://story.news.yahoo.com/news?tmpl=story&u=/nm/20040105/bs_nm/markets_global_dc_1)

I wonder how long before euro export companies start to downsize? (Xmas is over, so now they can send people home without fearing bad PR)

Too any europeans in vegas holdning on to their dollars - spend it all before you go home or you might end up with a poor dollar/euro exchange rate :okthumb:

[Winetalk.com]

some things Europeans do not understand...
low dollar is GOOD for us,
USA is a debtor nation,
meaning:
we OWE dollars, not Euros and this debt was created by getting goods and services in exchange of...
pieces of IOU paper...
;-)))

we got stuff- they got paper...
and we can print even more
;-)))

[Rolo]

Another low today - this time it was due too Federal Reserve President Jack Guynn who said

The U.S. economy may grow as much as 4 percent this year and there is little sign of a ``significant'' rise in inflation that would lead to higher interest rates

Dollar Drops to Record; Fed's Guynn Says Inflation to Stay Tame:

http://quote.bloomberg.com/apps/news?pid=1...id=a_T7WO.6Fe2c (http://quote.bloomberg.com/apps/news?pid=10000080&sid=a_T7WO.6Fe2c)

[Winetalk.com]

Originally posted by Rolo@Jan 6 2004, 05:05 AM
Another low today - this time it was due too Federal Reserve President Jack Guynn who said

The U.S. economy may grow as much as 4 percent this year and there is little sign of a ``significant'' rise in inflation that would lead to higher interest rates

Dollar Drops to Record; Fed's Guynn Says Inflation to Stay Tame:

http://quote.bloomberg.com/apps/news?pid=1...id=a_T7WO.6Fe2c (http://quote.bloomberg.com/apps/news?pid=10000080&sid=a_T7WO.6Fe2c)
...and the reason I personally don't care where the dollar goes, despite all my travels is:
I figured it all out!

I go to UK this year and letting Meat and Aga pay for everything,
because they have pounds and don't have to convert falling dollars!
;-)))

[Rolo]

Looks like european politicians are waking up, and trying to talk the euro down:

Stepping up his rhetoric on exchange rates after a meeting of leading central bankers in Basel, Mr Trichet said excessive exchange rate volatility was "not welcome and not appropriate".

He added that Europe's policymakers were concerned, and stressed: "We are certainly not indifferent." His remarks sent the euro, which has traded at record highs on an almost daily basis since the end of last year, sharply lower. It briefly touched $1.29 during the morning.

....

His latest "verbal intervention" is the first stage in a process that could ultimately lead to the ECB intervening on foreign exchange markets, although it would do so only as a last resort.

If it does intervene, the ECB would prefer a co-ordinated move with the US to increase its effectiveness, as in the effort to support the euro in 2000.

The meeting of the Group of Seven developed countries' finance ministers in Boca Raton, Florida on February 6-7 is expected to address the issue of currencies.

http://story.news.yahoo.com/news?tmpl=stor...t/1073280969343 (http://story.news.yahoo.com/news?tmpl=story&u=/ft/20040112/bs_ft/1073280969343)

This might end the free fall in dollars vs. euro for the next 3-4 weeks until G7 have had their meeting - question on this meeting will be if the US will support a lower value euro.

[Nickatilynx]

A year or so ago we were getting CAN1.65 to the USD.

Now its like CAN1.28

Stop gloating serge.

This hurts! :(

[slavdogg]

Originally posted by Nickatilynx@Jan 12 2004, 09:23 PM
A year or so ago we were getting CAN1.65 to the USD.

Now its like CAN1.28

Stop gloating serge.

This hurts! :(
Hey look monopoly money is now worth something :P