Word: floats
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...jobs were somewhat scarce, and thus contributed to some of the rural unrest. When the rebels seemed to be readying for a new round of attacks, President Zedillo decided to lower the peso by about 12 percent. Then, in a surprise to almost everyone, he allowed the peso to float against the dollar. Investors were used to being warned well in advance of a devaluation. This sudden move scared them, causing them to start unloading Mexican securities. The peso continued to drop...
After his Finance Minister said publicly just 10 days earlier that the currency would not be devalued, Zedillo used the occasion of a potential December uprising in Chiapas first to nudge the peso downward, then abruptly to let it float against the dollar. Plummet is what it did instead. In a world where international investment money can cross borders with a few taps on a computer keyboard, a thunder of key taps arose from the offices of stunned investment-fund managers in New York City and other financial centers. As they swiftly dumped Mexican securities, the peso went into...
...climate of insecurity spawned by the rebels for a change in policy. Within 24 hours the peso lost 12% of its value. Then came the bombshell. Despite an earlier promise of no further devaluations, Serra abruptly made public on a television show that the peso would be permitted to float against the dollar...
...Clinton Administration justifies American arms sales from another perspective. "All our arms-sale decisions optimize national security," an Administration official insists. "We're not letting sales simply float up to their natural level." Beyond that, he argues, different militaries can work together more easily against a common foe if they possess similar armaments. "The success we enjoyed in the Gulf War was due in some substantial measure to the interoperability of the allied forces," this official says. Besides, defense contractors are starved for work. "We're in a difficult time. Shrinking U.S. defense budgets add pressures to sell abroad...
...When typing, keep hands relaxed and fingers gently curved. Your hands should float easily above the keyboard...