November 29, 2004
Exchange Rate Disco
Europeans, their minds addled by the record high value of their currency against the US dollar, enter a whirlwind of gleaming bank notes and blurry glowing exchange rates. These euro-folk--even their exchange bureaus look like clubs.
The Guardian offers some analysis on why the falling dollar will make it harder for European companies to compete internationally against our US companies and their increasingly low relative prices. Americans considering travel to Europe any time soon might want to pack a few lunches to bring along, since your cash won't be worth much.
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