Hello Thomas, Saturday, June 22, 2002, 4:09:06 AM, you wrote (possibly edited): > Hello Costas,
> On Fri, 21 Jun 2002 20:58:51 +0300 GMT (22/06/02, 00:58 +0700 GMT), > Costas Papadopoulos wrote: >>> is this list up or what? ;-) CP>> It's going through its periodic "down" period, like the US Dollar, CP>> currently :))) > This list is (obviously) not down, and neither is the US dollar: the > USD is merely coming back to reasonable levels. ;-) > The euro was designed to be en par with the dollar (why do you think > it has such weird exchange rates with all its original currencies?), > but it was clear that it was going to drop in the beginning (good for > Europe's exports, too). I converted my funds to euros at the beginning > of this year, and (mark my words) within the next threee months or so, > the exchange rate euro : US dollar will be 1:1. > Actually, I converted from Pound Sterling to euro, GBP being my > previous (winning) bet. The Pound will continue to loose against the > euro, but not dangerously so. It is still far too high for UK exports. > Anyway, I think (hope) that one day, the U.K. will join Euroland. But > that is not predictable yet. I hope the moderator doesn't mind my replying to you on the list, given the current low traffic. If you follow the currency markets you will see that sometimes even the fundamentals are not so important as the people's sentiment. Lately, even though on the one hand there have been good economic indicator announcements in the USA, they have done almost nothing to control the fall in the Dollar since the equities market on the other hand has been disappointing (Enron etc.). Even the Bank of Japan's recent attempts to lower the value of the Yen versus the Dollar has not done much to change sentiment. So on the basis of the above you may be right in your forecast - well I hope so for your sake ;-) On a more detailed level, it doesn't hurt to remember that by definition at any moment in time the exchange rate represents the views of 50% of the people who believe it will go up and of the other 50% who believe it will go down! -- Best regards, Costas mailto:[EMAIL PROTECTED] _________________________________________________________ Archives : http://tbbeta.thebat.dutaint.com Moderators : mailto:[EMAIL PROTECTED] Unsubscribe: mailto:[EMAIL PROTECTED] Bugs/Wishes: https://www.ritlabs.com/bt/
