BERLIN (AP) --" The euro is higher against the dollar as European officials work on addressing Ireland's banking woes and a possible rescue plan for the country.
The 16-nation euro rose as high as $1.3607 before settling back to $1.3586 in Europe early Thursday -- still above the $1.3522 it bought in New York late Wednesday.
The European Union has held off so far on an Irish rescue plan, but representatives of the EU, the European Central Bank and IMF were traveling to Dublin to examine the government's and banks' accounting books.
Across the Atlantic, U.S. economic reports on Wednesday showed a troubled housing market and low inflation.
In other trading, the British pound rose to $1.5922 from $1.5899. The dollar slipped to 83.22 Japanese yen from 83.28 yen. "
*It's all about perceptions, direction of currencies, flow of funds. On top of that we have (drum roll) GM is BACK!!!! (meaning GOV and INSIDERS CASH OUT! BIG) you can get piece (at mkt price) of the company that got bailed out and is near debt free by defaulting on its debt as bond holders were wiped out....now they get to sell you MILLIONS of shares at $30 plus a piece??!! so the expected mkt cap will be something like $50BILLION? such a deal......novel idea they can now make money on each car sold instead of losing money....set adrift were health care expenses and many other UNION gimmees...leaner, meaner....and you can have it. The gov is just biding time to blow out its remaining 400 M shares.
Forgotten today perhaps will be the housing market both commercial and residential. Gone will be thw worries about jobs, inflation or lack of. Today should be a glorious day, time to forget all our troubles as if they just vanished
D
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