This report comes from today's online edition of the Financial Times.
John Snow, the US Treasury secretary, on Tuesday reaffirmed the Bush administration's support for a strong dollar as the US currency slid to an eight-month low.
A week-long sell-off has seen the dollar slide to its lowest levels since February against the euro and Swiss franc, leading traders to suggest the currency's decline was gaining momentum...
Since January 2002, the US currency has lost 29 per cent of its value against the euro. Strategists said Mr Snow's remarks would do little to support the dollar should traders and investors believe it was back on a weakening trend.
Perhaps not surprisingly, the article conjectures that the dollar may be under pressure from the same uncertainties that seem to be bearing on the economy more generally.
Politics has also weighed on the dollar, with investors reluctant to commit fresh funds to the US ahead of the presidential vote next month.
“There's uncertainty about the effect of new voter registration, there's uncertainty about trade policy and about a possible new Treasury secretary,” said [Terra Capital Partners Marc] Chandler. “It seems that most new Treasury secretaries make several gaffes when they start and this could hit the dollar.”
Ok, then. What do you say we get this election thing over already?