American politicians say almost nothing about the dollar, which goes from strength to strength.
By contrast, Europe's politicians can't resist the temptation to speak but can't make up their minds whether a weak euro is a good or bad thing. His words must have made Wim Duisenberg, the embattled president of the European Central Bank, want to tear out some of his ample hair. It is little wonder that the markets are confused. There was a delicious irony in the news on Friday that the US had joined in the co-ordinated international effort to prop up the plunging euro. Many observers thought there wouldn't be an international attempt to shore up the euro last week because the American government wouldn't want to use American taxpayers' money so recklessly just before a presidential election.