US Dollar dives again - when(and why) does it stop ?

As the G7 meet and Gordon Brown * meets the Great Satan face to face, (not the posture Tony normally adopts) there are increasing news reports that Iran is seeking (and receiving) payment for oil in Euros and that China is attempting to slow the accumulation of foreign exchange the US$ traded 0.3% lower again on Friday.(US$ 1.35290 = 1 Euro)....a 35% drop since the illegal invasion of Iraq.

The Australian dollar has continued its remorseless rise to a fresh 17-year high against the US dollar and a 10-year high against the Japanese yen.

The Pound Sterling showed new strength against the US$ finishing. US£ 1.98635 - £ Sterling. Even the Malaysian ringgit is showing ten year highs against the US$.

The US National Association of Realtors issues their Monthly Existing Home sales report on or about the 24th of April for the month of March. Good news is not expected as new housing available for sale is expected to climb from 6.7 months to over 7 months.


* Few of us will forget the visit of Dubya to London and Sedgefield for several days, in November 2003, when the street were full of folks bearing placards "Bush is a War Criminal" ... yet Gordon never got a chance to meet him ? Was he locked up for the duration by Tony ?... after all few will forget what he said at what Dubya disarmingly called the Queen's house...

" The third pillar of security is our commitment to the global expansion of democracy, and the hope and progress it brings, as the alternative to instability and to hatred and terror. We cannot rely exclusively on military power to assure our long-term security."

LATEST DEATH SCORES

Sunnis playing away from Home, exploded a car bomb in Kabala killing 40 and injuring 60. Back Home in Baghdad another cross Tigris bridge was damaged.