The euro fell yet again to a new low Thursday, reflecting continued disappointment with European economic fundamentals and unease about the realistic possibility of peace in Kosovo.
The dollar edged higher against the Japanese yen on revived
speculation that China would devalue its currency. The yuan has
remained the stable currency of the region during two years of
financial turmoil.
Traders sold euros and bought dollars Thursday as they wondered
whether peace had truly arrived in Yugoslavia even after Slobodan
Milosevic agreed to NATO demands and the withdrawal of Serb troops
from Kosovo.
The euro's lackluster performance is largely attributable to
Europe's stagnant economy, especially when compared with the
soaring economy in the United States.
In addition, interest rates in the United States are more
attractive than those in the euro zone and the Federal Reserve has
indicated it's likely to raise them more. (AP)
rc-am wrote:
> >The class content of this process has of course been controlled by the
> >ruling class, finance capitalism,
>
> is that really the case? wasn't the italian govt's inability to impose the
> conditions a factor in the fall of the euro?
>
> Angela
> ---
> rcollins at netlink.com.au