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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: Crimson Ghost who wrote (4377)1/4/2004 11:13:06 PM
From: mishedlo  Read Replies (1) of 110194
 
Dollar Falls to Record Against Euro After Bernanke's Comments

The dollar dropped to a record low against the euro in Asia after Federal Reserve Governor Ben S. Bernanke said the risk of a dollar crisis is ``quite low'' and that valuing the currency only against the euro may be ``misleading.''
Bernanke's comments ``suggested the U.S. will maintain the low interest rates for a while, triggering a new round of dollar selling on the first trading day of the year'' in Japan, said Kikuko Takeda, manager of the foreign exchange and treasury division at Bank of Tokyo-Mitsubishi Ltd., a unit of Japan's third-biggest lender

U.S. President George W. Bush's administration is untroubled by the dollar's decline, which may help boost sales and manufacturing jobs in an election year without an acceleration of inflation or higher interest rates.

quote.bloomberg.com
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