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The Euro's Heading Down
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 |
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