Dear Readers,
It seems that our worries about the drop in the value of the dollar are not only felt by us, but by the financial community at large. The Federal Reserve Chairman Ben Bernanke has stood by and defended his monetary stimulus, and even went so far as to implicitly accuse China that they are not doing enough to strengthen their own currency. Adding to that the fact that the Euro has strengthened for the third day in a row and that the rising commodity prices have boosted consumer price inflation in China, the financial community fears that the dollar "will become the world's 'weakest currency'". Now, whether this will be a good thing for shipping, or not, is yet to be seen by the strategies that the shipping companies will decide to enforce.
Read our original article: Shipping Markets: Quantitative Easing Round 2 - $600 billion
Best Regards,
Theo Scholiadis - S&P Broker
N. Cotzias Shipping
Main articles used (list not exhaustive):
[Source: Hellenic Shipping News Worldwide] [Date: 18/11/2010]
[Source: Bloomberg Businessweek] [Date: 19/11/2010]
[Source: Bloomberg Businessweek] [Date: 19/11/2010]
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