Posts filed under “Currency”

U.S. Dollar Euro Position

This is bouncing around currency trading desks on Wall Street:
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The current US Dollar position against Euro:
Euro_dollar_black_cherry_2

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I just realized that i can post pretty much anything, regardless of how offensive it might be, even if its not true, so long as I preface it with the phrase: "This is bouncing around trading desks on Wall Street."

I will try not to abuse this privilege too often . . .

Category: Currency, Trading

O’Neill: Strong Dollar Policy Is ‘Vacuous Notion’

Former U.S. Treasury Secretary Paul O’Neill discusses the U.S. economy and global financial markets, the performance of the U.S. dollar versus other currencies, and the Federal Reserve’s response to the mortgage and credit crisis.

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click for crappy windows media video
Oneill_41608

Former Treasury Secretary Paul O’Neill"

The "strong dollar” policy that he and every other Treasury chief since 1995 endorsed is "a vacuous notion.”

"It implies in it that somehow we have the ability to manage the relationship between the value of the U.S. dollar and other currencies around the world,” O’Neill, now a special adviser to Blackstone Group LP, today said in an interview with Bloomberg Television.

O’Neill roiled currency markets when he was in office from 2001 to 2002, at one point with comments in an interview with a German newspaper that the U.S. pursued a policy of a strong economy, rather than currency. The current Treasury Secretary, Henry Paulson, has repeatedly stated that he is a "very strong” supporter of the "strong dollar” policy.

"When I was Secretary of the Treasury I was not supposed to say anything but ‘strong dollar, strong dollar,”’ O’Neill said today. "I argued then and would argue now that the idea of a strong dollar policy is a vacuous notion.”

The U.S. currency today fell to a record low against the euro, and has declined 15 percent against its European counterpart in the past year.

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Sources:
O’Neill Says U.S. `Strong Dollar’ Policy Is `Vacuous Notion’
Rhonda Schaffler and John Brinsley
Bloomberg, April 16 2008
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=ackYQhodd4Nk

O’Neill Says Strong Dollar Policy Is `Vacuous Notion’
Bloomberg, April 16 2008
http://www.bloomberg.com/avp/avp.htm?clipSRC=mms://media2.bloomberg.com/cache/vwyrSX9M2QsQ.asf

Category: Currency, Economy, Video

Jobless vs. Unemployed

Category: Currency, Economy, Employment

Fantasy-based Economics

Category: Currency, Markets, Psychology, Taxes and Policy

Gold/Dollar Correlation

Category: Commodities, Currency, Technical Analysis

Faber Says Bernanke Policy Will `Destroy’ U.S. Dollar

Category: Currency, Federal Reserve, Inflation

Saving the House!

Category: Currency, Real Estate

Oil = All Time (Inflation Adjusted!) High

Category: Commodities, Currency, Energy, Technical Analysis

Dollar Submerged

Category: Currency

Dollar Weakness

Category: Currency, Financial Press, Music