-Caveat Lector- Euro breaks $1 barrier
The euro and the dollar have reached parity for the first time since February 2000. The dollar has been falling as investors shy away from US shares and investments because of fears over corporate credibility. And the euro has been gaining strength since the launch of notes and coins at the start of the year. A year ago the dollar was viewed as a quality investment haven in times of global economic uncertainty. It even fared well during times of US economic uncertainty. But a wave of accounting scandals that have engulfed firms including energy giant Enron and the telecoms firm WorldCom have caused investors to put their money elsewhere. Pros and cons The dollar's weakness will increase the competitivity of US manufacturing exporters. But it means more expensive holidays for Americans travelling in Europe. The euro hit its all-time high shortly after its launch at the start of 1999. But it began to slide there after, falling to a record low of 82.3 US cents in October 2000. Its newfound strength is thought to be more a function of fears over the dollar, rather than an endorsement of the single currency. The euro had been trading at 99.3 cents during the morning, before rising to 1.0026 shortly after midday. UK indecision In the UK, campaigners think the rapidly changing exchange rates confuses the UK's dilemma of whether to adopt the single currency. "Rapid moves in the euro exchange rate are going to make it difficult for the government to claim the five tests are clearly and unambiguously met," said George Eustice, campaign director of the No campaign. But pro-euro campaigners have taken the opposite stance. "The instability of all currencies in the modern world is why most countries are choosing to operate as part of, or linked to, larger currency zones," said Matthew Taylor, Liberal Democrat treasury spokesman. Testing time The stockmarkets are also braced for another week of volatile trading. Investor trust in corporate America faces a key test, as Wall Street firms begin to deliver their latest trading updates. Last week, leading US stock market indexes lost 7% of their value, one of their biggest ever weekly losses. Shareholders continue to fear that more firms will be forced to admit that their reported profits have obscured the true state of affairs. <A HREF="http://www.ctrl.org/";>www.ctrl.org</A> DECLARATION & DISCLAIMER ========== CTRL is a discussion & informational exchange list. Proselytizing propagandic screeds are unwelcomed. Substance�not soap-boxing�please! These are sordid matters and 'conspiracy theory'�with its many half-truths, mis- directions and outright frauds�is used politically by different groups with major and minor effects spread throughout the spectrum of time and thought. That being said, CTRLgives no endorsement to the validity of posts, and always suggests to readers; be wary of what you read. CTRL gives no credence to Holocaust denial and nazi's need not apply. Let us please be civil and as always, Caveat Lector. ======================================================================== Archives Available at: http://peach.ease.lsoft.com/archives/ctrl.html <A HREF="http://peach.ease.lsoft.com/archives/ctrl.html";>Archives of [EMAIL PROTECTED]</A> http:[EMAIL PROTECTED]/ <A HREF="http:[EMAIL PROTECTED]/";>ctrl</A> ======================================================================== To subscribe to Conspiracy Theory Research List[CTRL] send email: SUBSCRIBE CTRL [to:] [EMAIL PROTECTED] To UNsubscribe to Conspiracy Theory Research List[CTRL] send email: SIGNOFF CTRL [to:] [EMAIL PROTECTED] Om
