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Politics : Ask Michael Burke

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To: Knighty Tin who wrote (71118)	11/30/1999 10:48:00 AM
From: TRINDY	Read Replies (1) of 132070

Mike, Do you have a feel for what is going on in currency markets at present? The yen is at 102 and the Euro hovers near parity. Kind of confusing. Is it just some aberrant Y2K flow of funds? In the longer term I think the dollar is in trouble. There are a lot of dollars floating around the world and if the Euro can ever mature to a reserve status, that seems to me to mean less demand for dollars and a lot of them coming home to roost. With foreigners wanting to hold fewer dollars, US interest rates would have to rise to stimulate their willingness to hold dollars. But, assuming this analysis is valid, we still don't know when the turning point will be. Also, the Euro seems to be having trouble of late when only a few weeks ago it was in the $1.08 range. Your thoughts are appreciated. Cheers!

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