--- Miles Jackson <cqmv at pdx.edu> wrote:
> Excerpt from Merrill Lynch's morning memo,
attributing dollar
weakness to:
>
> >comments out of Russia's central bank that it is
considering
> >reweighting its $113 bln cache of FX reserves out
of dollars (64%
> >share) and into euros (20% share).
In the words of scooby-doo: "rutt-roh!" (Hey, I beat DRR to the pop culture reference for once!)
Miles -- Back in the days of hyperinflation, Russian restaurants and other places started listing prioces in soming called the "u.e.," which meant in effect the US dollar. Nowadays, every place seems to be insisting that "u.e." now means "euro."
===== Nu, zayats, pogodi!
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