"The current euro-dollar rate is more of a reason to be happy than concerned, " he said.
He is reported to have raised the question of the euro-dollar exchange rate with Mr Bush.
The long-term chart of the euro-dollar exchange rate shows a series of lower highs since 2007 (line c).
Only one bank, Goldman Sachs, expects the euro-dollar rate to rise above parity within the next 12 months.
Gold prices surged starting March 15, as the Cypriot banking crisis was erupting, as the euro-dollar exchange rate broke down.
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Since the exchange rate is a binary issue, not distorted by an overhang of global liquidity, we take euro-dollar stability and falling gold as rejecting the idea of a Fed rate cut.
They also suggest taking profit on their short euro-US dollar trade. (Read Trade Wars: How Overheating Led To A Conflict Between Brazil And Argentina).
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The consequences almost certainly would include the inability of Greek corporates to service their euro- and dollar-denominated debt if the drachma is readopted as an operating currency.
It was then "converted" into one of the firm's own currencies - mirroring either the Euro or US dollar - at which point it could be transferred to another account holder who could then extract the funds.
The ECB will then have dollars that it can lend to Euro-banks needing dollar liquidity, presumably with collateral receiving a haircut.
The dumbest, most destructive economic policy of the Bush Administration has been its weak-dollar position--letting the dollar slide in value against the euro, the yen, the pound and gold.
The euro-enthusiasts also forget that the euro was launched in the middle of a long-term dollar bull market.
It could also bring to a halt the appreciation of the euro against the dollar that is hurting the export-reliant euro area.
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The euro-U.S. dollar exchange rate slid 0.3% to 1.3118 while gold firmed 0.9% to 1, 714 per ounce.
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Stabilizing the dollar-euro exchange rate can only be achieved within a rule-based monetary regime, not by relying on "independent" central banks and finance ministers to coordinate monetary policy to do it.
And I was comparing his economic comments with my position, and strangely enough and luckily enough, I can actually afford more things in America these days because of the ruble which is so stronger than the -- comparatively than euro and dollar were meant to be.
This gap may explain the strength of the euro, which has risen against the dollar in recent weeks despite endless euro-zone sovereign-debt worries (see chart).
One effect of the euro-area crisis was to push the euro down against the dollar in the early months of this year helping German firms but harming American exporters.
The value of euro banknotes in circulation and the market for euro-denominated securities already rival the dollar, a long-established currency backed by a single nation-state.
The wild card ahead for the U.S. dollar remains the Euro-zone.
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The ProShares Ultrashort Euro ( EUO) is a double-short leveraged ETF that tracks the dollar price of the Euro.
Hovering near 11-month lows, the euro strengthened only slightly against the dollar as investors feared that credit downgrades were looming for members of the 17-nation currency bloc.
The Japanese yen fell to a fresh 2.5-year low against the U.S. dollar and a three-year low versus the Euro currency Wednesday.
How to profit from the falling dollar: Buy euros and euro-denominated securities.
Using the currency's 2007 peaks as a guide, the pound has fallen more sharply against the dollar and euro (around 25-30%) than it did after the exit from the Exchange Rate Mechanism in 1992.
The weak data sent the euro down to a six-week low against the dollar.
It reflects the weakness of the dollar, which made investments in euro-denominated securities worth more to U.S. investors.
However, possible commodity inflation and the rising value of Dollar vis-a-vis Euro may pose profit margin and pricing challenges for Heinz in future year.
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One reason for this withdrawal is that international trade takes place in dollars, and risky-looking euro-zone lenders are finding it harder to access dollar liquidity.
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