One of my favorite financial notes landed this morning, a breath of calm amid the nuttiness. The currency group at Brown Brothers Harriman writes that the dollar is holding tough:
Several factors are contributing to US dollar strength. Problems in the financial sector are spreading to Europe with three European central banks injecting money into the Belgian financial company, Dexia, today. The deleveraging process appears to be continuing and finally, while politics make the implementation of the US rescue package messy, there is still movement toward a resolution.
In other words, trouble in Europe makes the dollar look relatively good. And economists are still hopeful that Congress will find a way to rescue Wall Street.
categories: Morning Report
Comments
Please note that all comments must adhere to the NPR.org discussion rules and terms of use. See also the Community FAQ.
You must be logged in to leave a comment. Login | Register
More information needed to participate in the NPR online community.. Add this information