Saturday, January 17, 2004
A dollar turn?
Posted by David Smith at 03:19 PM
Category: Thoughts and responses

Against expectations, the dollar had a spectacular week, driven by the first indications that the European Central Bank is worried about the euro's rise. Sterling, which had been heading inexorably towards $2, fell by five cents, and back below $1.80. This Bloomberg piece describes the week's moves. Has the dollar turned? The markets will remain nervous ahead of the G7 meeting in Boca Raton, Florida, on February 6-7, but I still don't think we've seen the dollar's low point.

Secondly, off economics, as a Wolverhampton boy I have to celebrate this result. Wolves 1 Manchester United 0 will mean very little to some readers but it means a lot to me.