Word: bucked
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...Plunges Finance: True to his name, U.S. Treasury Secretary John Snow sent a chill through currency markets last week, apparently reversing the Bush Administration's "strong dollar policy" when he said he didn't see "anything troubling" in the dollar's plunge of 20% over the past year. The buck promptly hit a four-year low of $1.10 to the euro. And while Snow spent the next day scrambling to "reiterate my support for the strong dollar," it plumbed new lows throughout the week - pushed down by a huge 300,000 increase in U.S. unemployment during February. That...
...Saigon?only bureaucrats and tourists call it Ho Chi Minh City?is a notoriously freewheeling place where everyone seems to be hustling for a buck. But no one has worked the angles like Truong Van Cam, a.k.a. Nam Cam (Fifth Orange), who reigned for 15 years as the Godfather of Saigon. The 56-year-old former dockworker and soldier ran card games and cockfights, restaurants and brothels, collected protection money and loan sharked. He raked in an estimated $2 million a month?small potatoes for other Asian dons, perhaps, but unheard-of wealth in Vietnam. Cam needed money...
...three years, U.S. stocks have fallen an average 16% a year, and foreign stocks have fallen even harder. But there is no question that foreign markets can outperform the U.S. for years at a clip, and it looks as if we're entering just such a period. The falling buck is a big part of that. As the dollar weakens, foreign stocks held by U.S. investors become more valuable because the underlying foreign currencies appreciate...
...What lies ahead? Forces that have been knocking down the dollar remain in place, notably a growing trade deficit and a run of terrible investment returns on dollar-based assets that are scaring foreign investors into keeping their money at home. Looking ahead a year, many pros believe the buck will be 5% to 10% lower against major currencies...
...victory capped a flawless weekend for Corl. The Troutville, Va., native had already won his previous matches against Cornell’s Buck McLamb and Columbia’s Bart Seemen...