January 12, 2004

"You...the currency in green! Behave!"

This quote from a CBS marketwatch story was good for a bit of a laugh. The emphasis added is mine. Euro 1.30...just where we thought the carnage would stop--for now. Officialdom is comfortable with this level--just barely. But officialdom is just one of many investors in the market. And what it would like to orderlyl is often not. We'll se... "The dollar reversed ground against the euro, improving to $1.28 after reaching a record high over $1.29. Group of 10 Chairman Jean-Claude Trichet, also the president of the European Central Bank, said at a news conference that 'excess volatility and brutal moves were not welcome and not appropriate,' Reuters reported. 'We are concerned. We are not indifferent,' Trichet said. But Trichet said the currency issue did not dominate the meeting."


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