I don't know if this belongs here, but since the exchange rate of the euro vs. the dollar determines our buying power I decided to put this here. I was reading that some European finance ministers in Luxemborg were endorsing a strong euro. It turns out oil is denominated worldwide in dollars, so that a stronger euro versus the dollar could effectively mute the effects of soaring energy costs for Europeans. So, it sounds like the dollar will continue to the deapreciation we've suffered since 2002, which is why all those european goods are so expensive. I don't work in Wall Street, but it seems like this trend will continue.
post #1 of 30
10/27/04 at 2:55am