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Strategies & Market Trends : China Warehouse- More Than Crockery -- Ignore unavailable to you. Want to Upgrade?

To: RealMuLan who wrote (1507)	11/18/2003 6:54:24 PM
From: RealMuLan	Read Replies (1) \| Respond to of 6370

HoHoHo---Dollar Drops to Record Low Versus Euro as Asset Purchases Fall Nov. 18 (Bloomberg) -- The dollar tumbled to a record low against the euro in New York trading after net foreign purchases of U.S. securities fell to the lowest in five years, and the Bush administration imposed trade restrictions on China. ... ``Every time the U.S. imposes more trade sanctions, it's a sign the dollar is going to weaken,'' said Kenneth Landon, senior currency strategist, at Deutsche Bank AG in New York. ``At the same time, it's a sign of lower inflows to the country.'' ... For some U.S. companies, the dollar's drop is a welcomed event. United Parcel Service Inc., the world's largest package- delivery company, said that currency-related gains boosted its revenue by $79 million in the third-quarter and its profit by $18 million compared with the year-ago period. ... quote.bloomberg.com