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At 18/8/2001 17:31 +0100, Robin Kinross wrote:
>1 January 2002 is going to be interesting: seems likely that the euro coins
>and notes will begin to make their impact in the non-participating European
>countries, like an unstoppable tide. Yesterday the US dollar and the UK
>pound started their long falls  against the euro.

This may be the result of repatriation. When most of the EC currencies were
first tied to the Euro a lot of people decided that they preferred US
dollars and UK pounds. Yesterday's dollar/pound fall may be a start of
repatriation. If so, not all of the money will go back before the middle of
next year (and it may take a lot longer.)

David ib

David Ibbetson * 133 Wilton Street * Unit 506 * Toronto M5A 4A4
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