Since I reported the US dollar's drop against the Euro a few months
ago, I am delighted to report a reversal. The US dollar is currently
at 1.23 to the Euro and improving daily. A currency specialist tells
me he expects a rate of 1.15 by year's end.

Where it goes from there is anyone's guess, but the US economy has been
doing a bit better than expected and the Euro zone is not doing too
well. The French refusal to accept the new European constitution is
also likely to destabilize financial markets there. I am betting we
will see a continued improvement from the US perspective.

So, I suggest US pilots resist buying overpriced used gliders and think
again about ordering from the factory for delivery in the next year or
two when rates look like they will be much improved.

Mike the Strike