Little man stamps his foot, shrieks "Do as I say!"
Authorities lose patience with collapsing dollar Jean-Claude Juncker, the EU's 'Mr Euro', has given the clearest warning to date that the world authorities may take action to halt the collapse of the dollar and undercut commodity speculation by hedge funds. Momentum traders have blithely ignored last week's accord by the G7 powers, which described "sharp fluctuations in major currencies" as a threat to economic and financial stability. The euro has surged to fresh records this week, touching $1.5982 against the dollar and £0.8098 against sterling yesterday. "I don't have the impression that financial markets and other actors have correctly and entirely understood the message of the G7 meeting," he said. snip http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2008/04/18/cneuro118.xml Has he heard of King Canute?
Authorities lose patience with collapsing dollar Jean-Claude Juncker, the EU's 'Mr Euro', has given the clearest warning to date that the world authorities may take action to halt the collapse of the dollar and undercut commodity speculation by hedge funds. Momentum traders have blithely ignored last week's accord by the G7 powers, which described "sharp fluctuations in major currencies" as a threat to economic and financial stability. The euro has surged to fresh records this week, touching $1.5982 against the dollar and £0.8098 against sterling yesterday. "I don't have the impression that financial markets and other actors have correctly and entirely understood the message of the G7 meeting," he said. snip http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2008/04/18/cneuro118.xml Has he heard of King Canute?