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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: Haim R. Branisteanu who wrote (8094)	2/14/2004 6:34:51 AM
From: Crimson Ghost	Read Replies (2) \| Respond to of 110194

And all this despite the highest combined state/city tax rates in the nation for New York residents.

To: Haim R. Branisteanu who wrote (8094)	2/14/2004 9:51:22 AM
From: mishedlo	Read Replies (3) \| Respond to of 110194

Another day, another fall in the dollar Sterling came within a whisker of breaking through the $1.90 level against the struggling dollar as the US currency was hit by a widening American trade deficit and an unexpected drop in consumer confidence. On a day of gyrations on the foreign exchanges, the greenback was close to hitting a record low against the single currency before profit-taking and rumours of intervention by the European Central Bank halted the selling. At one point sterling rose to $1.8986, its highest since September 1992, shortly before Black Wednesday, when the pound left Europe's exchange rate mechanism. By the close it had drifted back to $1.8860, while the euro retreated from $1.2892 to $1.2770. News that the US trade gap widened to $42.4bn in December from $38bn in November added to the dollar's problems. Evidence that the sharp depreciation in the US currency has so far failed to close the gap between imports and exports prompted speculation that the dollar may have to fall much further if the world's biggest economy is to eradicate its $500bn a year deficit. The euro's strength has begun to alarm eurozone politicians, who fear the single currency zone's export-dominated recovery may grind to a halt if goods are priced out of overseas markets. "From an exporter's point of view, [the euro's rise] is certainly making things tough," said Bertie Ahern, the Republic of Ireland's prime minister and holder of the rotating presidency of the European Union. guardian.co.uk