Showing posts with label dollar. Show all posts
Showing posts with label dollar. Show all posts

18 December 2006

The World's Economic Centre of Gravity...

...just started to move to the right:


The euro held steady after the Iranian government said it had ordered the central bank to transform the state's dollar-denominated assets held abroad into euros and use the European currency for foreign transactions.

But I've no illusions that this is anything but the start of a shift even further eastward...