| Topic: |
Politics > Politics-USA |
| User: |
"" |
| Date: |
30 Nov 2003 01:32:07 PM |
| Object: |
Dollar, Near Record Low Versus Euro, Poised to Extend Decline |
Dollar, Near Record Low Versus Euro, Poised to Extend Decline
Dec. 1 (Bloomberg) -- The dollar may drop for a fourth week against
the euro on concern foreign investors will buy fewer U.S. Treasuries
the government is selling to finance its record budget deficit,
according to a Bloomberg News survey.
The shortfall in the U.S., which Merrill Lynch & Co. estimates may
widen to $600 billion in the fiscal year that began Oct. 1, combined
with a record current-account deficit, prompted the dollar to weaken
beyond $1.20 per euro for the first time.
``I'm hearing about the weak dollar all the time now,'' said John
Cholakis, who trades euros in New York for Natexis Banques Populaires,
a French lender. ``There's a real worry out there that if the Japanese
and the Europeans would stop participating in U.S. Treasury auctions,
there'd be a real run on the dollar.''
Eighty-four percent of the 49 analysts, investors and traders polled
Friday from Tokyo to New York advised buying or holding the euro
versus the dollar, little changed from a week earlier. Similar surveys
predicted the dollar's slide in the past two weeks.
- click full story -
http://quote.bloomberg.com/apps/news?pid=10000087&sid=awyH2XTTgj7Y&refer=top_world_news#
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