The US $ in EURO
1,1780

What happened this week: The market is just stumbling and really not here nor there. Last week we felt, that the USD has given some support, and so did it early in the week, to fall again sharply towards the end. So, one becomes more a currency dealer at present and a good hand on the currency market can make or destroy a week –at least as far as the export business is concerned. But the currency market is also becoming more and more a guideline for the European customers as well. Many of them are also exporting their leathers and so their mood is strongly influenced by what they see on the screen. Sales were again moderate this week. Not bad in volumes with the regular programs being renewed and some spot deals for dairy cows and low grades for the Asian market. However, one can still see that tanners don’t rush to buy hides, because they feel that they might have another and last chance to turn the price levels their way before the year ends. And indeed it seems, that most sellers are not anymore betting on a positive change in the market in 2003. Having said this, it did again not prevent individuals from spending

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