The USD vs the Euro hasn't been looking so hot:
http://www.reuters.com/article/idUSL1491971920080314PARIS (Reuters) - The U.S. economy lost the title of "world's biggest" to the euro zone this week as the value of the dollar slumped in currency markets.
http://uk.news.yahoo.com/afp/2008031...e-5268574.htmlVenezuela, Latin America's leading petroleum producer, has previously backed Iran's proposals for OPEC to abandon the dollar and use the euro for oil pricing. But the Organisation of Petroleum Exporting Countries has rejected the idea, at least in the short-term.
The head of the journal Petroleum World, Elio Ohep, said the shift to euros was "good business" for Venezuela.
Some people think the Euro is a bit overvalued though...
http://danskeresearch.danskebank.com/link/eurusdwherenext0208/$file/eurusd_wherenext_0208.pdfOur conclusion is that we continue to consider it premature to turn fundamentally bullish on the dol-
lar, but also that a downturn in the euro is steadily approaching. An asymmetric bias probably pre-
vails, where the USD may benefit more from good news and suffer less from bad news than the euro.
• Our forecast remains one of a move to 1.52 within 3 months and 1.40 before year-end, though in-
creasingly a move above 1.50 may become difficult to achieve.



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I don't personally have any currency risk at the moment. Taking a currency swap position is slightly tempting though...
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