American financiers believe that Asian countries are trying to gain the advantage over the USA
It is funny to see when the American administration is trying to settle the nation's economic problems or to improve the situation with the unstable US dollar. It seems that someone does not want the US dollar to rise, trying to take competitive advantages of the United States. On the other hand, everyone knows that playing games with the well-being of American citizens might lead to serious and lamentable consequences.
First of all, American industrialists have recently accused Japan and other Asian countries of manipulating the dollar rate against the yen on the state level. Secondly, Malaysian Prime Minister Mahathir bin Mohamad, who is not in good relations with the US administration, has released a statement, in which he incidentally revealed the dream of a lot of oil exporters.
The Coalition for a Sound Dollar has recently released a sensational statement too - a professional organization, which incorporates over 60 industrial associations of American businessmen. The point of the statement is as follows: Japan and other countries of East Asia are trying to manipulate the dollar rate on the state level, trying to obtain certain export advantages. The Coalition's report said that the Japanese Central Bank acquired $43 billion at cheap prices in May. Experts of the organization believe that it was the largest transaction in the history of the world money market. The authors of the report believe that Tokyo artificially maintains the low yen rate, funding the rush of Japanese exporters on the American market indirectly.
One shall assume that the Japanese government is trying to take the advantage over the USA. On the other hand, this method is of the trivial market character. Japan wants to protect its economy from the American economic setback.
The report of the coalition also said that the suspicion regarding the similar situation with China could not be confirmed on account of the shortage of the information: the Chinese government has everything under control. Nevertheless, it is known that China purchased $7,8 billion in March. Since China is one of the largest exporters to the American market, it means that something is being hidden from the public eye.
South Korea and Taiwan were also implicated in the dishonest competition. The two countries have acquired $4,5 billion each.
The US Coalition for a Sound Dollar believes that this manipulation with the American currency causes the deficit of the American trading balance, reduces the production and increases the unemployment level. It was the Asian intrigue that reduced the consuming index of the University of Michigan.
It seems strange, but Russia is not on the list of America's economic enemies. The US dollar in Russia is weakening even faster in comparison with international money markets. Yet, it did not occur to Coalition specialists that the Russian Central Bank administration might be in the conspiracy with the Chinese and Japanese governments to make the dollar crush completely. On the other hand, it is not ruled out that some other organization of American businessmen might accuse Russia in the nearest future in an effort to lay the burden of American problems on someone else.
The Malaysian prime minister indirectly confirmed the anti-dollar conspiracy theory. Making a speech at the Asian oil and gas conference, Mahathir bin Mohamad suggested world oil prices should be nominated in euro. The minister said that the dollar system should be reconsidered. One may not say that the people present at the conference had any objections to it. All oil manufacturers and exporters are trying to find a way to protect themselves from the cheap American dollar and other financial surprises. To crown it all, oil prices have been going down recently, slowly but surely.
RIA Novosti news agency reported that the American currency had become more than 14 percent cheaper against the euro since the beginning of the current year. The Brent oil price reduced by almost nine percent over the same period and made up $27,49 per barrel. Russian Urals oil slipped down to $25,52 per barrel.
Against the background of those scandals, the dollar rate strengthened on Tuesday on the international forex market at the Asian trading session. However, experts say that there are no reasons to believe that the American currency will continue growing. According to dealers' estimates, the activity on the currency market is not high: market members are waiting for the publication of the macroeconomic data about Germany, the industrial output in the European Union and in the USA, as well as the inflation rate in the States.
The dollar rate raised to the level of $1,1830 per euro yesterday against $1,1870 on Monday. The American currency rate vs. the yen increased to Y11,7 per one dollar vs. Y117,3. The dollar growth was inspired with the business activity in the state of New York, and with an unexpected rise of the American stock market. The Dow Jones index gained 2,21 percent and made up 9,318,96 points. Specialists say that it is the highest level that the index has reached since July 5th of 2002.
Volodymyr Saldo, Acting Governor of the Kherson region, said that the Armed Forces of Ukraine were suffering heavy losses while trying to cut across the Dnieper Rvier