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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory

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To: Haim R. Branisteanu who wrote (6828)	2/3/2004 12:26:49 PM
From: mishedlo	Read Replies (1) of 110194

The paragraphs below summarize exactly why this meeting is likely to be useless. Both sides want something different. The US appears to not be concerned about a lower dollar and in fact I think they want one. Europe wants the US to act to support the dollar but the US does not want to raise rates before there are jobs. ========================================================== ``The least I expect is that finance ministers, including the U.S., will come to a common statement saying they are worried about the dollar's weakness and that this development won't continue,'' Rogowski said. Without a statement on the dollar ``I expect the markets will then test the dollar again, so we would see a further devaluation,'' he said. The U.S. may resist a common statement that would risk triggering a rise in the dollar as President George W. Bush prepares to run for reelection in November, Rogowski said. ``The U.S. is probably interested in a relatively low exchange rate of the dollar as this supports their economy,'' he said.

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