Talking Up the Dollar

Talking Up the Dollar
Paulson suggests that intervention in currency markets is possible, but Bush may not agree. Transcript of radio broadcast:
12 June 2008
This is the VOA Special English Economics Report

For several years now, the dollar has fallen lower and lower against other major currencies. Lately, though, the dollar has risen, especially against the Japanese yen and the euro. Some traders think the dollar will continue to rise, but that is not clear.

The dollar moved up this week after comments by American officials in support of a strong dollar policy.

On Monday, before he left for his last trip as president to Europe, George Bush said: "A strong dollar is in our nation's interests. It is in the interests of the global economy." Also Monday, Treasury Secretary Henry Paulson said on CNBC television that he would consider intervention to keep the dollar from sliding further.

The United States has not intervened in currency markets since two thousand. That year the administration of president Bill Clinton bought euros to support the European currency.

But on Tuesday, President Bush said in Slovenia that the "relative value of economies will end up setting the proper valuation of the dollar."

A weaker dollar helps American exporters. But it means Americans have to pay more for imports and for travel to other countries.

Some experts say dollar weakness is the main reason why oil prices have risen so high. Oil is priced in dollars on the world market.

But Treasury Secretary Paulson dismissed any link. He noted that since two thousand two, the dollar has fallen about twenty-four percent. But the price of oil has gone up well over five hundred percent.

Adding to pressure on the dollar, European Central Bank President Jean-Claude Trichet suggested that the E.C.B will raise interest rates next month. European officials are increasingly concerned with inflation. But investors can already get higher rates of return on investments in euros than in dollars.

High prices for oil, food and other products have raised inflation concerns worldwide. Federal Reserve Chairman Ben Bernanke said the latest increases in energy prices have added to inflation risks.

His comments in recent days have suggested that the central bank could stop cutting rates as it has since September. Its rate for overnight loans between banks is currently at two percent. Some market watchers think the Fed could raise rates as early as this month.

Finance ministers from nations in the Group of Eight will discuss the dollar and other issues at their meeting this weekend in Osaka, Japan.

And that's the VOA Special English Economics Report, written by Mario Ritter. I'm Bob Doughty.

----------------------------Google Translate



谈升美元
保尔森表明，在干预外汇市场是有可能的，但布什可能不同意。全文电台广播：
2008年6月12日
这是美国之音特别英语经济学报告

几年来，美元下跌低，对其他主要货币。最近，虽然，美元已上升，特别是对日元和欧元。一些交易商认为美元将继续上升，但并不明确。

美元汇率上升，这周的评论后，美国官员在支持一个强势美元政策。

对周一之前，他留给他最后一次作为总统访问欧洲，布什说： “强势美元是在我们国家的利益，这是在利益的全球经济” 。此外，周一，库务司司长唐英年表示，保尔森对CNBC电视台表示，他会考虑干预，以保持美元的进一步下滑。

美国并没有介入，在货币市场自2000 。这一年，政府当局比尔克林顿总统买欧元，以支持欧洲货币。

但在周二，布什总统说，在斯洛文尼亚认为， “相对价值，经济最终会设置适当的估值美元” 。

疲软的美元有利于美国的出口商。但它意味着美国人要付出更多的进口和旅行到其他国家。

一些专家指出，美元疲软的主要原因是石油价格上涨这么高。石油价格在美元对世界市场。

不过，库务局局长保尔森被解雇任何链接。他指出，自2000二，美元下降了约24 ％ 。但石油价格的上升，以及超过500 ％ 。

加入的压力，对美元，欧洲中央银行总裁特里谢指出，欧洲央行将提高利率在下个月。欧洲官员日益关注通胀。但投资者已经能够获得较高的回报率，对投资于欧元，比美元。

高油价对石油，食品和其他产品所提出的通膨忧虑，全世界。美国联邦储备委员会主席伯南克说，最新的增加，能源价格上涨，增加了通货膨胀的风险。

他的评论在最近几天已有人认为，中央银行可以停止降息，因为它已自9月。其率为隔夜贷款银行之间目前正处于二％ 。一些市场观察家认为美联储可能提高利率，早在这个月。

财政部长由联合国在8国集团将讨论美元和其他问题举行的会议本周末在日本大阪举行。

这是该美国之音特别英语经济学的报告，书面，由马里奥里特尔。我鲍勃doughty 。