Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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From: energyplay	11/19/2004 1:00:16 PM
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Is China Behind The Strong Euro? from BCAResearch---- 08:54:00, November 19, 2004 China’s rapid build-up of international reserves may further boost the euro exchange rate. The steady rise in China’s official reserves likely will lead to more Chinese purchases of euro-denominated assets. It appears that the Chinese central bank was an aggressive buyer of the euro during the past two years, acting to drive up the currency, as part of a program to diversify its international reserve portfolio. Looking forward, it is entirely possible that the Chinese central bank will continue to increase its holdings of euro-denominated assets, thereby sustaining upward pressure on the euro. In the end, it may be the euro area economy that is the biggest loser, via an increasingly uncompetitive exchange rate

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