Sunday, November 07, 2004

Another Day, Another Falling Dollar

[German Chancellor Gerhard] Schroeder's comment yesterday that the euro's rise is ``not yet dramatic'' triggered dollar losses and outweighed a report showing the U.S. economy added the most jobs since March.

``It's anyone's guess what the pain threshold is for the euro,'' said Robert Lynch, a currency strategist in New York at BNP Paribas. European officials' comments ``would suggest that at this point it's not going to be a problem any time real soon.''

``If a payrolls like this can't cause the dollar to rally, it's the clearest signal that there is something seriously wrong with the dollar,'' said David Bloom, a currency strategist at HSBC Holdings Plc in London.


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