The dollar is gaining again!
Friday 18th, the dollar came up against the euro. The Euro nations is expressing fears that the Euro is becoming harmful.
The previous day the Euro bought $1.5888 by the late trading day, then the next day it reached $1.5830
Quote:
On Friday, Anton Boerner, the head of the BGA federation of German exporters and wholesalers, was quoted by the Bild newspaper as saying that auto and aviation companies could start moving their manufacturing operations to the U.S. to avoid the high euro and take advantage of the weak dollar.
"One has to expect a drastic moving of jobs to the U.S. in the car and aviation industries because of costs," Boerner was quoted as saying by Bild. He added that might not happen, however, if the industries found new markets in Russia and Asia.
To underscore that, on Thursday night Audi AG chief executive Rupert Stadler told reporters his company was considering whether to start producing engines and gearboxes in the U.S., in part to keep the luxury car maker more independent from dollar fluctuations.
Volkswagen AG (VLKA.Y) also said in March that it was scouting locations in the United States for a new production plant to help mitigate the effect of the currency differences, and BMW AG has already said it would expand production in South Carolina.
Source: CNN
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