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Originally posted by Seekerof
What effect in Europe is the over-valued Euro having? Rumors abound on everything from inflation to the high cost of living to crippling the economy...
Basically, the under-valued "weak" dollar really affects who worse?
I see a strategy being played out here....
The euro traded as high as $1.3546 by 1205 GMT, according to Reuters data, up 0.2 percent on the day.
It also rose against the yen to 140.30 yen, close to recent 18-month highs above 140.50.
The dollar traded at around 103.60 yen, unchanged from late U.S. trade and at the lower end of recent ranges.
The euro was at 70.24 pence, close to one-year highs against sterling set Thursday on speculation that the next British rate move will be a cut
Originally posted by worldwatcher
right now it's back in the .90's but it seems like soon we'll be testing $136.00 (hopefully not till next week)
Once again thinned volume coupled with strong demand pushed the euro even higher during the session. Trading at $1.3540 in New York before the Christmas weekend, traders bid the currency higher, as it hit record highs of $1.3640 today. The advance looks to be a result of increasing speculation that intervention attempts may not be as forthcoming on either side of the Atlantic as earlier hinted. Additionally, statements released late last week fed this sentiment as European Central Bank council member Quaden commented that the recent currency appreciation hasn't been "too worrisome" as the effects have muted the costs of rising crude oil prices, although simultaneously hurting exports.
Originally posted by Indy
Well thats kind of the problem. Thats about the only thing we are good for. Fast food and junk. We make large cars which the rest of the world won't buy. Is there anything that we do make that the rest of the world wants?