Instead, Bush said, thedollar is benefitting from flight-to-quality type buying on global economic slowdown worries since other safe havens such as the yen and Treasurys are also higher.
As domestic and foreign capital has taken flight, the peso has dropped to about 50 to the dollar-off 25% from its average of 40 in 1999 and about half its value of 26 at the onset of the Asian financial crisis in 1997.