From: "Robert Comer" 

The euro has been overvalued for a long time given the economy in the
biggest EU states, it's about time that a correction started. (for the EU's
sake -- it wont help the US all that much.)

- Bob Comer


"Rich Gauszka"  wrote in message
news:434a9522$1{at}w3.nls.net...
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http://www.bloomberg.com/apps/news?pid=10000100&sid=aB1bxX3S9mXk&refer=german
y
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> Oct. 10 (Bloomberg) -- The euro fell the most in a week on concern a
> German government led by Christian Democratic leader Angela Merkel will
> struggle to push through tax cuts and labor law changes to revive Europe's
> largest economy.
>
> The euro declined 0.6 percent to $1.2054 at 11:48 a.m. in New York, from
> $1.2129 late on Oct. 7, according to electronic currency dealing system
> EBS. It fell to 137.75 yen, from 138.02, and is lower against 14 of 16
> most active currencies.
>
> The U.S. currency, up 10.5 percent against the euro this year, rose for
> the first day in three on Oct. 7 after a report showed the economy's job
> losses last month were less than expected, buoying expectations the
> Federal Reserve will continue to raise interest rates. Policy makers will
> tomorrow release the minutes of their Sept. 20 meeting.
>
> ``There are several big events that might help the dollar to assert itself
> this week,'' Commerzbank's Friend said. ``People are going to be pretty
> cautious in placing big bets for now.'' The dollar may reach $1.1975 per
> euro this week, he said.
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