The dollar...?

[MadYank]

Interesting article today re OPEC.

They are starting to move their assets FROM dollars TO euro's.

That tells me they are not very confident of keeping oil trading in dollars rather than euros - if that happens, the dollar will hit REAL bad times.

Does OPEC know something we dont?

You got any linkage to that story?

I think it is an important signal regarding $ strength but for the moment is deffo a political weapon used to show disapproval of current US Guvment policies in Middle East. That said, I still think China's Tbill holdings have a far greater affect on $ strength in that if they decided to sell out to another currency the $ could easily spend a short time tailspinning with followon affects on US economy.

[M3boy]

Link for ya

http://www.theglobeandmail.com/servlet/story/RTGAM.20070117.wxr-euro18/BNStory/Business/home

Many many more stories on google, just look for "opec dollar euro"

With OPEC moving their assets to Euro's, this article is also interesting :

http://www.rockhawk.com/the_dollar_vs_the_euro.htm