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To: yard_man who wrote (215849)	1/21/2003 4:32:49 PM
From: Broken_Clock	Read Replies (1) \| Respond to of 436258

By the time the buck gets to shrub's desk....will there be anything left to stop? Now back to our regularly scheduled program, "Selling the Buck!" -g- << As the greenback's trading ranges were pushed lower, that triggered some moves from market participants struggling to account for an unexpectedly swift decline of the dollar. The median estimate among major foreign exchange banks consulted for a Dow Jones Newswires survey last week was for the euro to rise to $1.06 by mid-February, a bar that the single currency has already overshot as the dollar's travails have worsened. "The trade (selling the dollar) is gaining momentum," said Paul Podolsky, chief strategist at Fleet Bank in Boston said. "You've probably got a lot of people who weren't hedged" for dollar weakness who are doing so now, and that adds to the aggregate amount of people selling dollars in the market, Podolsky said. But war worries are only one force among the powerful tides dragging the dollar down, said Podolsky. "The broad story is that there aren't the (capital) inflows to support the U.S. current account deficit," currently around 5.0% of gross domestic product, he said. -By John Parry; Dow Jones Newswires>>