what kind of idiot carries monopoly money with them when they travel??? you put everything you can on your card and hit a bank to exchange only a little pocket money.
Posted on 06/16/2008 5:47:08 PM PDT by bruinbirdman
"We accept euros," say signs in the windows of several Manhattan retailers. The Continental currency is up 14% against the dollar the past 12 months. Measured against a basket of currencies of big economies, the dollar is at a 25-year low.
The pendulum may be about to swing the other way, however. Europe's growth rate is expected to sputter to 1.7% this year from 2.6% in 2007. If the European central bank cuts interest rates to kick-start the economy, the dollar will benefit.
Foreign direct investment into the U.S. is also increasing the demand for dollars; it rose 62% in the second half of last year to $137 billion and is continuing to grow. As for the oft-trumpeted death of the dollar as the world's main reserve currency: It still accounts for 41% of central bank reserves, versus just 17% for the euro.
Marc Chandler, head of currency strategy at Brown Brothers Harriman, says a smart way to bet on a dollar rebound, and a euro retreat, is to short the exchange-traded fund. You could also short one euro futures contract on the Chicago Mercantile Exchange (nyse: CME); contract size is $196,000.
(Excerpt) Read more at forbes.com ...
what kind of idiot carries monopoly money with them when they travel??? you put everything you can on your card and hit a bank to exchange only a little pocket money.
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