the euro's brief(?) blip
 

Hi all

can't say I read very many posts here, but I don't recall any recent discussion about the euro falling a little bit. I'm sure it must make a few travelers happy. as for the overall reasons of late - given what little I know, voting non sounds like a good idea to me, right now.

didn't it drop nearly 10% in the past few weeks, or less? oh, to go back to Rome now...

It was discussed alot last week.

ah, that's what happens when you don't live here. I'll look, thank you!

Well everybody speculates what this will mean what that will mean and then when it goes the other way, everybody has an excuse...

Basically some sopeculated that with the rejection of the EU constitution in France followed by Holland, that would put some downward pressure on the euro. But then at the end of the week, a report came out showing job growth in the US had slowed down and bingo it was speculated the euro would go up against the dollar.

As of this instant, the euro stands at $1.2265; at it low point last week it fell to just under $1.22 so.....

Perhaps a ouija board will be just as accurate as the so called experts and some fodorites had theirs out last week.

Don't forget exchange rates in open markets probably depend less on objective external factors, like the referendum results, than on how traders think other traders will react to them - and which external facts they're likely to think significant (which could as well be the popularity of Berlusconi's latest hairweave or the chances of a hot summer in France as intricate economic calculations in the Bundesbank).