Wednesday, February 6, 2008

Will Dollar Overshadow Yuan?

WASHINGTON -- When the world's top economic officials meet in Tokyo this weekend, they will likely stand shoulder-to-shoulder to complain about the weak Chinese yuan. Behind closed doors, they are much more likely to squabble about over the weak dollar.
The soft dollar is lifting U.S. exports and providing a cushion just as the U.S. teeters on the edge of recession. Europeans and Canadians are watching with alarm as their strong currencies make it harder for them to compete against U.S. companies -- and firms from countries whose currencies closely track the dollar.

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