As Washington enters lock down mode for Gerogie's coronation (but don't forget we're winning the war on terror), currency markets continue to express their views of four more years of Georgie and the Radical Republicans.

Dollar Falls, Gold Rises in Europe: The U.S. dollar fell against other major currencies in European trading Wednesday. Gold prices rose.

The euro was quoted at $1.3037 in European trading, up from $1.3022 Tuesday. Later, in midday trading in New York, the euro fetched $1.3026.

Other dollar rates in Europe, compared to late Tuesday, included 102.41 Japanese yen, down from 102.63; 1.1818 Swiss francs, down from 1.1858; and 1.2269 Canadian dollars, up from 1.2200.

The British pound was quoted at $1.8759, up from $1.8665.

So much for Georgie's recently announced "strong dollar" policy. I guess Uncle Karl hasn't learned that the currency markets don't respond all that well to his kind of bullying. I can't wait to see how the currency markets respond to Georgie's Social Security "plan." My advice, start hoarding Euros.
posted by Idle Crank at 1/19/2005 02:37:00 PM