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COPYRIGHT 2006 Voxant, Inc.
Original Source: CNBC/DOW JONES BUSINESS VIDEO ANALYST INTERVIEW
ROSS WESTGATE, CNBC ANCHOR: Now the dollar has recovered after hitting 20- month lows against the euro. But it is still under pressure amid concerns about a slowdown in the U.S. economic growth. Joining us for more is Paul Chertkow, head of global currency research at Bank of Tokyo-Mitsubishi.
Paul, thanks for joining us. Now there are lots of theories as to why we suddenly got this dollar selling last week. Some have said, look, it was such holiday-thin trade, it doesn`t really matter, we are going to recover. What has happened is that the dollar index has broken its range. And so, here is the question, does momentum for dollar-selling remain through to the end of the year?
PAUL CHERTKOW, HEAD OF GLOBAL CURRENCY RESEARCH, BANK OF TOKYO-MITSUBISHI: I think it may well, especially against the euro. One of the interesting statistics is that in the seven years of the euro`s life, you know, five of the seven years, the euro has appreciated in December. And on average of the five years it has gone up by...
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