The Euro at Five

Presented at the Dallas Fed conference, "Five Years of the Euro: Successes and New Challenges," May 14, 2004

The euro is now 5 years old;
It's been overbought and oversold.

(Not necessarily in that order.)

But whichever way it happens to lean,
The ECB keeps the float clean.

About the Author Bob McTeer is president and CEO of the Federal Reserve Bank of Dallas.