GLOBAL MONEY FLOWS... The Euro has fallen to a four-month low against the dollar. In my view, this is primarily due to signs of economic weakess in the Euro-zone. The yen has been attracting new money lately as has been the Japanese stock market and the rest of Asia. It seems money has been leaving Europe and moving to Asia. The explains the recent relative strength in the whole Pacific Basis region.
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August 28, 2003
Chart 3
Chart 4
August 28, 2003
