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Strategies & Market Trends : Sharck Soup
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To: DebtBomb who wrote (25334)5/29/2001 9:22:18 PM
From: DlphcOracl  Read Replies (2) of 37746
 
Dale W. and Fred L.: Interestingly, Don Hays, the veteran market observer, makes the point that European economic weakness will force Europe into a currency war versus the U.S. As their economies continue to weaken (note the weakness of the Euro), they will deliberately weaken their currencies against the US dollar (as much as possible) to make the price of European exports more attractive to the US consumer. Their economies are even more dependent on the US consumer than ours.

The Fed will respond (according to Hays) by continuing to cut rates to keep the dollar from going up too much versus the Euro. In other words, a currency war between the Euro and dollar will ensue to attract the US consumer dollars. Hays believes that the Fed may cut rates down to 3% in the process.
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