[North-NV-Greens] Fwd: [ALD] Unstoppable Euro rises on

[Paul Etxeberri]

>
>
>
>http://www.euronews.net/create_html.php?page=accueil_eco&lng=1&option=1,home
>&PHPSESSID=c79f21058e82bff582eb1667d9806356
>
>Unstoppable Euro rises on
>
>The dollar has now sunk for seven straight weeks against the euro, its
>longest stretch of consecutive declines since the start of the year. The
>1.33 levelhas already been tested and found wanting, and although the dollar
>is now around two cents better off that early Friday absolute low, the 1.35
>level now looks to be just a matter of time.
>
>The euros' steady rise has been affected by many things ; the size of
>America's current account and trade deficit are important long-term factors,
>but the damage this week has come from two new quarters, and they are
>indicators of a deeper current running against the world's favourite reserve
>currency.
>
>First of all near panic was triggered by a rumour China was dumping US
>government bonds from its reserve holdings. The Chinese calmed nerves when
>they said their mix of bonds and cash was simply being changed without
>reducing overall dollar holdings .
>
>However the Russians began overturning the applecart when they said this
>week they would be adding to their euro reserves at the expense of the
>dollar. The fact two central banks have intervened in this way illustrates
>that the private sector is all but done with devaluing the greenback, and
>that its fate is now in government's hands. Only intervention can now stop
>the dollar's slide in many analyst's opinion, otherwise the market will
>continue to be bearish, and the euro will continue its crazy spin up into
>uncharted territory.
>
>
>------------------------ Yahoo! Groups Sponsor --------------------~-->
>Make a clean sweep of pop-up ads. Yahoo! Companion Toolbar.
>Now with Pop-Up Blocker. Get it for free!
>http://us.click.yahoo.com/L5YrjA/eSIIAA/yQLSAA/X1EolB/TM
--------------------------------------------------------------------~->

-- 
Paul Etxeberri

"Forests precede civilizations and deserts follow"   ---Chateaubriand