Tuesday, November 6, 2007
Is Greenspan making a VI appeal ?
"Former Federal Reserve Chairman Alan Greenspan said the U.S. currency is unlikely to weaken further against the euro". but "over the long term it will fall against Asian currencies". "The U.S. currency has also fallen this year against nine of the 10 most traded currencies in Asia outside Japan, losing 11.1 percent against the Indian rupee and 10.6 percent versus the Philippine peso". "Greenspan said there was an ``overhang of supply'' and that US home prices would have to fall further"