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

To: orkrious who wrote (102356)	3/25/2009 10:09:06 AM
From: Haim R. Branisteanu	Respond to of 110194

EURO-DOLLAR: Spikes higher in the wake of Geithner's . EURO-DOLLAR: Spikes higher in the wake of Geithner's remarks regarding use of SDR's, the dollar taking a hit across the board as traders contemplate the dollar seeing reduced international use, though commentaries of late have said this is a long-term issue, not short term. Euro vaults overnight highs, races to $1.3600. The dollar is tanking on remarks by Treasury. DOLLAR: The dollar is tanking on remarks by Treasury Sec Geither saying that he is open to the use of a SDR linked system. His remarks come after PBOC Gov Zhou Monday called for the establishment of a super-national reserve currency to stabilize international monetary systems. Zhou suggested that the role of the IMF's Special Drawing Rights be expanded beyond their current weightings in dollars, euros, sterling and yen. Zhou also proposed that the FX basket used to value the SDR be weighted according to the GDP of participating countries. Last night, in response to a question about Chinese comments, Pres Obama said: "As far as confidence in the U.S. economy or the dollar I would just point out that the dollar is extraordinarily strong right now. And the reason the dollar is strong right now, is because investors consider the United States the strongest economy in the world with the most stable political system in the world."