Sunday, November 07, 2004

CURRENCY UPDATE

Despite President Bush's re-election, the stock market rally and a strong job report, the dollar skidded about 5% against the euro last week. With one euro now equal to $1.296, the dollar is at its weakest point since the euro was introduced several years ago, and within 11% of the weakest its ever been against European currencies (pre-euro) since the dollar became a free-trading currency in the early 1970’'s.