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Strategies & Market Trends : John Pitera's Market Laboratory
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To: John Pitera who wrote (4717)9/28/2001 6:33:51 PM
From: Hawkmoon  Read Replies (5) of 33421
 
Given this evidence, currency analysts are surprised that the dollar -- which has fallen 3.1% against the euro and 3.6% against the yen since the Sept. 11 terrorist attacks -- has held up as well as it has.

Given that few people can find European investments that aren't specifically reliant upon the economic health of the US, it doesn't surprise me that the dollar has held up so well.

I see few other safe-havens for extreme amounts of capital to flee to... Certainly not to Japan, which will have to monetize their national debt to climb out of their liquidity trap..

And probably not Europe, which catches a pneumonia when the US catches a cold.

Having the US dollar moderate its growth should alleviate some pressure the trade deficit which has been a subsidization of European exporters.

Just my opinion.

Hawk
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