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Strategies & Market Trends : Currencies and the Global Capital Markets

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To: Hawkmoon who wrote (2756)	12/28/2000 10:37:43 AM
From: Robert Douglas	Read Replies (1) of 3536

Uhhh Robert, the Euro in its current form, did not exist until January, 1999, and been going nowhere but downward ever since then: Let me quote from the IMF October 2000 publication: "Indeed, on many measures the euro has sunk below earlier historical lows reached in the mid-1980s by its synthetic counterpart. Footnote: Both the real and nominal effective exchange rate of the euro have fallen below the historical low of its (synthetic) counterpart recorded in late 1984. When measured against the U.S. dollar, however, the euro has remained above its low in 1985." I remember that 1985 period. The dollar reached absurd levels. So the euro is lower than at any time except that one extraordinary period against the dollar. And for what it's worth, the IMF publication concludes, "the current level of the euro appears to be significantly misaligned, especially against the U.S. dollar..." apparently been little regulatory change, or tax cuts in Europe that would promote higher growth. Not true! There have been tax cuts in Germany, France and several other places.

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