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To: Louis V. Lambrecht who wrote (76414)6/22/2003 8:57:34 PM
From: Haim R. Branisteanu  Read Replies (2) | Respond to of 209892
 
Louis selling oil in EUR's or USD has no influence on the FX exchange at all. Transaction costs are minimal like 2 to 3 pips. For example just now the EUR is 1.1580 to 1.1583 to the USD.

The mania of hedge funs and other speculators are influencing more the EUR/USD than any oil based transaction.

Only a week ago all the monkeys at the major banks were predicting an exchange rate of 1.25 USD for one EUR now only one week later the predict 1.12 USD for one EUR.

quote.bloomberg.com