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Strategies & Market Trends : Currencies and the Global Capital Markets
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To: Sam who wrote (3188)1/2/2002 12:32:07 PM
From: Robert Douglas   of 3536
 
Re: "Interesting article on the Euro and Europe's underground "cash" economy. Could the strength of the dollar be in part related to this?"

Sam, I believe this is responsible for some of the late weakness in the Euro - especially given the dramatic turnaround the last few days.

Bear Stearns had an article on this exact thing this morning. They report that "cash in circulation" has dropped 15% in the last year as money has flowed to other currencies. This is a massive decline and has almost certainly depressed the euro.
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