On the contrary, they're gonna go way, way up.

And the heart rate just kept going up and up, all the way up to 150 beats.

The ECB can curb the euro s appreciation through purchases of foreign currency. But, ultimately, it would have to do so by inflating its own currency until confidence in the euro falls back to the level that it had before the assurances were made.

The rate for Hamburg was raised in July 2004 to 284 or 233 and stands at 308 or 233 for March 2005.

First, we have the fast rise in Uganda and Zimbabwe.

The euro s recent rise against the dollar is a case in point by most accounts, euro bulls have been reacting to the enormous US current account deficit, a surging euro zone economy, and rising euro interest rates. What is irrational about factoring in such fundamentals when trading a currency?

There are several reasons why gold prices are rising, but they suggest a gradual rise with significant risks of a downward correction, rather than a rapid rise towards 2,000, as today s gold bugs claim.

And one of these guys, he must have been 22, he had 150 percent spike in oxytocin.

Looking ahead, the appreciating euro (another surprise, especially to the many observers who doubted its survival less than two years ago) will compress the eurozone s current account surplus to some extent. An exchange rate of close to 1.40 poses a challenge for many European exporters, including German companies.

The yen s value against the US dollar has declined by more than 7 in the last month. With the euro rising relative to the dollar, the yen s fall relative to the euro has been even greater.

In addition, due to the appreciation of the euro against the United States dollar, the actual unit cost of vehicles was higher than budgeted.

It's more expensive to transport goods. Prices of goods go up, inflation is affected.

As holders of euro denominated assets recognized this situation, they turned to the ECB for insurance (which the ECB could not deliver under its previous president, Jean Claude Trichet, whose leadership was defined by his commitment to maintaining price stability). Investors subsequent efforts to price in the risk of a eurozone breakup not the volume of sovereign debt caused bond yields to spike.

Like it or not, the ECB is effectively financing the sovereigns. German leaders have frowned on this, and the ECB has felt uncomfortable, limiting its purchases and saying that political leaders, not central bankers, should save the euro.

Spain and Greece have managed to achieve an internal devaluation of about 5 this year vis à vis Germany, but their competitiveness vis à vis the US and dollar linked countries has not improved, because the euro has appreciated by more than 5 against the dollar. And, indeed, the euro should appreciate, because the eurozone as a whole is now running a large current account surplus.

The public finances of Spain and Portugal are somewhat sounder, but those countries face huge problems in increasing their competitiveness within the eurozone. In Spain, for example, wages have risen too fast, and productivity has lagged.

Of course, it might be argued that if Greece gets away with an involuntary restructuring, others would be tempted to try it as well. Financial markets, worried about this, would immediately raise interest rates on other at risk eurozone countries, large and small.

Unlike the US dollar, there is no obvious way to put pressure on the European Central Bank to depreciate the currency in order to obtain a competitive advantage over other economies. European governments are not in a position to instruct the ECB to purchase government bonds.

Because crude oil is priced in US dollars, and the dollar has depreciated against the euro, European consumers have gotten off relatively easy from rising energy prices. So an energy tax roughly equal to the euro s 33 appreciation in recent years would be about right.

Expenditures actually incurred in 2003 increased by some 30 per cent, primarily as a result of exchange rate fluctuations, as the average euro to dollar exchange rate applied in 2003 increased from 0,836 in 2002 to 1,1876 in 2003.

The budget for the administration of the Procurement Services General Services, after recosting, amounted to 7.9 million for the 2004 2005 biennium, which represents an increase of 3 per cent compared to the budget of 7.6 million for the previous biennium.

In the last four months alone, it has soared by more than 7 compared with a basket of more than a dozen global currencies, and by even more against the euro and the Japanese yen. This dollar rally, the result of genuine economic progress and divergent policy developments, could contribute to the rebalancing that has long eluded the world economy.

The euro was expected to acquire an international role, eventually improving Europe s resilience in the face of economic shocks. There has been a surge in euro denominated international bonds, but the liquidity of foreign exchange markets is no higher for the euro compared to the national currencies it replaced, and the euro remains a long way from challenging the supremacy of the dollar.

3 litres per person per day at 0.84 per litre.

For the US, the combination of a stronger economy and less accommodative monetary policy will put additional upward pressure on the dollar s exchange rate which has already appreciated significantly against both the euro and the yen. With few other countries willing to allow their currencies to strengthen, the dollar s tendency toward appreciation will remain strong and broad based, potentially triggering domestic political opposition.

Given this, what arguments support the current value of the euro, or its further rise?

In 1974, prices of petroleum had risen sharply, and in 1980, Governments were fighting against air pollution generated by the transportation sector.

The Secretary General, in his report to the General Assembly recommended that the emoluments of members of the Court be increased to 177,000, taking into account the weakening of the United States dollar vis à vis the euro, the rise in the living costs and the increase in the salary of staff at the Under Secretaries General level.

FRANKFURT Many in the eurozone s crisis countries complain that the source of their suffering is a rigid economic austerity regime including reductions in wages and pensions, tax increases, and soaring unemployment imposed on them by Germany. Hostility against Germany has reached a level unseen in Europe since the end of World War II.

All of this has underpinned a much welcome calm in financial markets. Sovereign interest rate spreads have been well behaved, the euro has strengthened, and equity markets have risen robustly.

So how is it that the euro is trading at a 40 premium to the US dollar, even as investors continue to view southern European government debt with great skepticism? I can think of one very good reason why the euro needs to fall, and six not so convincing reasons why it should remain stable or appreciate.

Since the euro s introduction, unit labor costs have risen dramatically faster in France than they have in Germany. According to Eurostat data published in April 2011, the hourly labor cost in France was 34.2, compared to 30.1 in Germany and nearly 20 higher than the eurozone average of 27.6.

According to Eurostat data published in April 2011, the hourly labor cost in France was 34.2, compared to 30.1 in Germany and nearly 20 higher than the eurozone average of 27.6. France s current account deficit has risen to more than 2 of GDP, even as its economic growth has ground to a halt.

825 litres per hour for 30 hours at 0.29 per litre.

825 litres per hour at 24 cents per litre.

Investors, policy analysts, and even officials are quietly beginning to suggest that this might be the case. The euro has strengthened by nearly 10 against the dollar since European Central Bank President Mario Draghi vowed on July 26 to do whatever it takes to hold the currency together.

Based on daily fuel consumption of 15 litres at 0.4491 per litre.

In the US, the inflation rate has also been depressed by the rise in the value of the dollar relative to the euro and other currencies, which has caused import prices to decline. This, too, is a level effect, implying that the inflation rate will rise once the dollar's exchange rate stops appreciating.

Who does Chirac think is at fault? The European Central Bank, of course, for allowing the euro to appreciate too much and for not cutting interest rates enough.

So far, the bazooka represented by the ECB s outright monetary transactions program has had the desired effect without having to be used. Eurozone financial markets have stabilized, and the euro has appreciated against the dollar and the yen.

The estimate was calculated on the basis of a fuel cost of 0.188 per litre at the following fuel usage rates (a) 341 litres per hour for the Beechcraft B 200 ( 163,700) (b) 379 litres per hour for the Cessna C 208B ( 454,600) (c) 2,385 litres per hour for the Lockheed L 100 30 ( 1,602,700) and (d) 4,600 litres per hour for the Boeing B 727 ( 1,495,900).

So, with no near term risk of inflation or depression, why have gold prices started to rise sharply again in the last few months?

18.5 litres per day at 0.19 per litre plus 2 per cent for lubricants.

Don t Fear a Rising Dollar

International finance economists see a far bleaker future. They see the end of large scale dollar purchase programs by central banks leading not only to a decline in the dollar, but also to a spike in US long term interest rates, which will curb consumption spending immediately and throttle investment spending after only a short lag.