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ARTICLE · 07 FEBRUARY 2005

Euro - the New Dollar?

Caxton FX Ltd
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"It is a brutal development. It will be discussed, but issues on exchange rates are to be discussed behind closed doors." Hans Eichel, the German Finance minister expresses his concern over the ever increasing value of the euro. However, the actions of European officials seem to be the mirror opposite of their American counterparts.

United KingdomAntitrust/Competition Law
Rupert Lee-Browne
Rupert Lee-Browne

Rupert Lee-Browne, Managing Director at Caxton FX looks at the latest economic factors to affect the single currency and why it is getting stronger.

"It is a brutal development. It will be discussed, but issues on exchange rates are to be discussed behind closed doors." Hans Eichel, the German Finance minister expresses his concern over the ever increasing value of the euro. However, the actions of European officials seem to be the mirror opposite of their American counterparts. US authorities claim they want a strong dollar, yet do nothing to prevent it’s slide. The Europeans on the other hand fret about the ever escalating euro, yet they too do nothing substantive to stem the rise.

Over the past few months the weakness in the U.S dollar has had a very large effect on the overall value of the Euro and its relationship with other currencies. As the dollar's rate of exchange continues to fall against the world's major currencies, there has been much speculation that the euro is

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