7/12/2004

Dropping Dollar

Hello:

The dollar dropped to a new multi-month low last week in a slide that had intensified after the employment report on July 2nd. The Fed will have to walk a fine line between raising interest rates too quickly thereby slowing economic recovery and raising rates too slowly thereby allowing the dollar to drift lower.

Is your organization requesting proposals for portfolio management? Let us know, and we will be happy to submit an RFP response.

Terri G. Millson, CIMC President

Ray Dicius, GEPC LPL Branch Manager