13 June, 2007

Another Bollard game

Oh dear.

It seems that the exchange rate against the American dollar is hitting "record" highs again. US76.4oc this time.

In steps Alan Bollard and lowers the exchange rate by one whole cent.
To be fair, that will work if the American dollar was about to rise again on its own.

That was 3 days ago.
Yesterday the exchange rate was still above US75c

About as effective as catching water in a leaky bucket really.

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