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To: Les H who wrote (166622)	5/18/2002 8:50:48 PM
From: Haim R. Branisteanu	Respond to of 436258

The flow from the EZ is also accelerating, more so after the far right are starting to gain power and popularity in Europe. Lots of money goes to money heaven but then again the issue goes back to politics an who has the most sound economic an international policies. Point in case the slide of the USD accelerated after W was perceived weak in his meetings with the Saudis, He practically bowed to their demands. Previous to the meetings the EUR was around 0.88 now 0.92 in the meantime Europe slowed down as much if not more than the US and inflation is bound to jump to around 3% to 3.5% due to the new 4% wage agreements and rise in price of oil. In theory MS is right but then again they ignore the political trend. Only short 3 months ago the EUR was 0.86 and predicted to go to below 0.85 well what has changed beside perception ? nothing much the economies of the world are still suffering............... but politically there are many changes from W bowing to the arabs and the start of trade sanctions. The mistake W made was that he showed the world that he will bow under pressure and now after the arabs Japan and Europe are pressuring the US and W is not performing on his war on terror. upi.com The key to the USD exchange rate now is politics more than economics