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B4 The Bell Frieday September 24


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09/26/2004

Dow Jones News Services

(Copyright ? 2004 Dow Jones & Company, Inc.)

 

 

 

LONDON (Dow Jones)--U.S. President George Bush is being urged to signal a dollar devaluation of up to 20% to rebalance the global economy ahead of Friday's Group of Seven and International Monetary Fund meetings in Washington, the U.K.'s The Business newspaper reported.

 

http://www.amtddj.inlumen.com/bin/djstory?...WaebqLqWmde2mtG

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Hit reload. It is working now.

 

 

DJ UK PRESS: Pressure Grows On G7 To Agree Dlr Devaluation

 

09/26/2004

Dow Jones News Services

(Copyright ? 2004 Dow Jones & Company, Inc.)

 

 

 

LONDON (Dow Jones)--U.S. President George Bush is being urged to signal a dollar devaluation of up to 20% to rebalance the global economy ahead of Friday's Group of Seven and International Monetary Fund meetings in Washington, the U.K.'s The Business newspaper reported.

 

Senior U.S. administration officials in Washington have over the past few days tried to influence the White House and U.S. Treasury to put pressure on the G7 to agree to a dollar depreciation in its final statement, the newspaper said.

 

Recent data have shown the U.S. current account and trade deficits running at record levels, and economists have said a dollar depreciation is needed to rein these in.

 

The euro was quoted at $1.2260 in late New York trade Friday, compared with $1.2273 on Thursday. The dollar was fetching Y110.64 versus Y110.63, and CHF1.2624 versus CHF1.2598. The pound was trading at $1.8041, up from $1.7982.

 

The G7 will also call on the world's oil producers to take further action to bring down prices, The Sunday Times reported. Crude oil reached almost $49 a barrel in New York Friday, amid continued concerns that high energy costs will sap global growth.

 

Spurring economic growth will be high on the agenda at the meetings of G7 finance ministers and central bankers next week, U.S. Treasury Secretary John Snow said Friday.

 

"The promotion of economic freedom, opportunity and growth throughout the world will be a key topic," he said in a statement in New York City.

 

G7 officials meeting in Washington next week will be representing Canada, Italy, France, Germany, Japan, the U.K. and the U.S. Officials from China will also be present.

 

-By Neil Keane; Dow Jones Newswires; +44-20-7842-9495; [email protected]

 

 

 

(END) Dow Jones Newswires

 

09-26-04 0623ET

 

 

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agent,

 

The link doesn't work.

 

I just got Larry T. He hints that Prechter could be correct about his long term call. :ph34r:

TE I take that to mean $200 Gold? :o

No, The stock market.

 

Agent,

I still can't get it but, Tanks anyway. I will check dow jones tomorrow.

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Pee Brain: Don't take this wrong, but has it ever been peaceful in America?

 

hey dusty,

 

no ill feelings here - im just saying that rummy was not being flippant, he may have just been stating something very obvious. i didnt say that we are peaceful and they are violent, we are however, a common enemy for the various Iraqi factions. im not saying we are the leaders in world peace, that our country is peaceful or that we are a non-voilent society. they were fighting each other before we got there and they will be fighting each other again when we leave - thats not a flippant statement; its actually quitelikely IMO.

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Spoo doubletopped friday intra day (within 3 ticks) at 1113.81 which to me is about as good as it gets. Futures are above fair value at the mo but again stuck at 1113. That Greek Airliner escorted into England has been a developing story in CNN most of the day. Want to bet it is just like the Airliner escorted down in Vancouver, the Crew and passengers were squirreled away and it vanished from the press like magic in 24 hours with no explanations. This is another "nothing to see here...just move along!"

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