200 milijardi je pickin dim da prostite i za amere i za bracu
To je jedan seik promjenio banku (iz USA u Svicu) pa sad raja izmislja ostalo
Dolar jest opao i to pomaze americkom izvozu sada. Autoru teme bi bilo bolje da se zamisli kakve ce to imati posljedice na EU (pored jkog eura). Procitaj malo kako su u Eu zabrinuti zbog jakog Eura jer znaju ih inflacija moze pojesti.
Dollar Falls to Record Low Against Euro After Schroeder Remarks
Nov. 5 (Bloomberg) -- The dollar tumbled to a record low against the euro after German Chancellor Gerhard Schroeder suggested he will tolerate a stronger European currency, overshadowing a surge in U.S. job growth in October.
The euro's rise is ``not yet dramatic,'' Schroeder, leader of Europe's largest economy, told a press conference in Brussels. His remark followed European Central Bank President Jean Claude Trichet's failure yesterday to protest a four-week euro advance that helps offset the impact of higher oil prices.
``We were lined up with everyone else to buy euros; we did buy some,'' said David Durrant, chief currency strategist in New York at Bank Julius Baer & Co., which manages $95 billion. European officials may ``allow the euro to appreciate somewhat because of their inflationary concerns,'' he said.
Against the euro, the dollar weakened to $1.2934 at 12:10 a.m. in New York from $1.2872 late yesterday, according to EBS, an electronic currency-trading system. The dollar fell as low as $1.2953, breaching the Feb. 18 record low of $1.2930. The U.S. currency fell to 105.64 yen from 106.03 yesterday.
The dollar, down 4.7 percent in the past month against the euro, initially jumped after the Labor Department said employers added 337,000 workers in October, after a gain of 139,000 a month earlier, fueling bets the Federal Reserve will raise its benchmark interest rate twice more this year.
``If a payrolls like this can't cause the dollar to rally it's the clearest signal that there is something seriously wrong with the dollar,'' said David Bloom, a currency strategist at HSBC Holdings Plc in London. ``If you can't smell the coffee on this, I don't know what's wrong with you.''
`Loving This Market'
The dollar has lost 8.3 percent since its high for the year of $1.1761 on April 26, surrendering gains made on expectations the Federal Reserve would raise its benchmark interest rate from a four-decade low. The U.S. currency is also down this year against the yen, British pound, Swiss franc, Brazilian real and the currencies of Australia and New Zealand.
Hedge funds, pension funds and mutual funds are selling dollars, said Michael Klawitter, a currency strategist at WestLB AG in Duesseldorf, Germany.
``A lot of currency hedge funds had a miserable year, and so they're loving this market now,'' he said. ``The euro will be testing $1.30, which the market desperately wants to see.''
Decline Under Bush
The dollar is weakening as the U.S. current account deficit widens, economists pare forecasts for U.S. economic growth and foreign demand for U.S. assets wanes. The currency has shed 21 percent since President George W. Bush, who won a second term on Nov. 2, took office in 2001.
Slowing purchases by foreigners of U.S. securities fueled speculation the economy won't be able to attract enough capital to compensate for a record current-account deficit and maintain the dollar's value, said Aziz McMahon, a currency strategist at ABN Amro Holding NV in London.
``The dollar has been beset by structural negatives and these have become more acute since President Bush was re- elected,'' he said. ``There isn't going to be a speedy resolution to the fiscal problems and there isn't going to be a speedy resolution to the current account.''
The shortfall in the current account widened to a record $166.2 billion in the second quarter. The gap is equivalent to 5.7 percent of gross domestic product, up from 5.1 percent in the first quarter, meaning the U.S. economy needs to attract about $1.8 billion a day to match it, according to Bloomberg calculations. The current account is a measure of trade, services, tourism and investments.
A widening deficit in the current account may cut demand for the dollar, Robert McTeer, president of the Dallas Fed, said in a speech in New York on Oct. 7. San Francisco Fed President Janet Yellen and Kansas City Fed President Thomas Hoenig have also said they're concerned. Currency policy is set by the U.S. Treasury.
Schroeder, Trichet
The dollar has lost 1 percent this week against the euro, and 0.2 percent versus the yen. Schroeder said the rise in the euro isn't yet ``dramatic,'' so ``we don't need to take any political measures.'' He spoke at a press conference after a summit of European Union leaders in Brussels.
When asked about the euro's gains at a press conference in Frankfurt yesterday, Trichet referred to a statement by the Group of Seven earlier this year that ``excess volatility and disorderly movements in exchange rates'' are undesirable, stopping short of his January denunciation of ``brutal'' exchange- rate moves.
``In the previous dollar down phase at the start of the year, we swiftly got complaints from European officials,'' said McMahon. ``This time around, there have been no complaints and some arguments that the euro appreciation, in the context of high oil prices, would provide some sort of shield for the economy.''
To contact the reporter on this story:
Mark Tannenbaum in New York at at
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To contact the editor responsible for this story:
Daniel Moss at
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