Markets hit by dollar's fall

The stockmarkets abruptly fell around the world yesterday as feared that the administration of Bush involves a reduction deliberately the value of the dollar led to a flight the head the first out of the currency of the USA and pushed the euro close to a level highest.

With the support of concern that the dollar 's.A. prolonged of the risks of fall pushing the euro areas in the recession, the White House sought to reassure the nervous financial markets which it had not given up the strong policy of the 10 last year old dollar.

The analysts of city said, however, that the comments of weekend by the Minister for Finance of the USA, John Snow, had been an open invitation to sell the dollar, with a strong direction that the administration of Bush sought to amplify American businesses by carrying out the more expensive foreign imports.

America launched its own weapon of massive destruction, says the pastors of Nick, a strategist of currency with Commerzbank. Solution of the USA to deflation is to export it towards the rest of the world.

The banknote was dropped by two hundreds against the simple currency in the trade early in Europe, gathering only slightly when the Japanese govern lies strongly intervened on the foreign currencies in order to try to put a halt at Yens with the 'rise in S. Livre were held gently against the euro to 71.45p but went up to its higher in addition to three months against the dollar, to $1.6380.

Pedro Solbes, Europe 'police chief monetary of businesses of S, put a courageous face on the rise relentless in the euro, to say a simple currency strong and stable would be good for the euro areas of 12 nations.

With Central Bank European noting of the pressure of support to amplify the growth while cutting rates the next month, the bank 'president of S, Wim Duisenberg, indicated that it was dubious if the euro areas could reach the growth envisaged of 1% this year after the stagnation in the first six months of 2003.

Release for salt-off of yesterday 'of S was remarks by Mr. Snow during the meeting of the Ministers for Finance of G7 to Deauville, France, in which it described the dollar 'falls of S of 36% since modest February 2002 like .

David Brown, a European economist with Bear Stearns, indicated: Neige drew the carpet outside from under the currency. The dollar is on a dissimulation with nothing, and him 's going much lower.

With a stage in European trading yesterday, the dollar was in fall two hundreds to $1.1739 against the euro, compared with the $1.1884 reached a few days after the simple currency the 'successful launch of S in January 1999. The banknote was closed with Juste below $1.17 with the euro, but Mr. Brown said that he believed that he would fall to $1.25 towards the end of the year, adding to the problems for the export-dependent euro areas.

Germany the 'index of S DAX of principal shares was dropped almost from 5% among the concern above the impact on industry one euro stronger. The stockmarkets in London and New York also suffered, in spite of the weakness of book and the dollar in recent weeks.

London 'indices of S FTSE were in bottom of 107.7 points to 3941.3, with Wall Street 's Dow Jones index to drop more than 180 points by lunching. The retailers indicated a reappearance in the terrorism and the realization of benefit as other factors affecting the feeling.

John Smith, the leader of investment as a chief to the managers of funds of Solus, said: Us the 'VE obtained preoccupations with a currency about the dollar, of us 'of the concern of currency obtained by VE about the strong euro and of us the 'uncertainty obtained by VE on coordinated attacks of terror.