This Must Be the Euro's High Point

According to Reuters, stores in New York City have begun accepting euros.

In the latest example that the U.S. dollar just ain't what it used to be, some shops in New York City have begun accepting euros and other foreign currency as payment for merchandise.

"We had decided that money is money and we'll take it and just do the exchange whenever we can with our bank," Robert Chu, owner of East Village Wines, told Reuters television.

The increasingly weak U.S. dollar, once considered the king among currencies, has brought waves of European tourists to New York with money to burn and looking to take advantage of hugely favorable exchange rates.

click to enlarge

I am long the dollar.

Comments

[MartinLowenthal]

Good piece. See my piece 'When supermodels opine...' and others about this at www.lompie.blogspot.co...