AFM Currency Update
Great news for the first day of the American Film Market: the British Pound and the Euro are both trading high against the US Dollar, which in turn is elevating the Australian dollar as well. The US Dollar continues to decline against these and other currencies, thanks to news that China will financially assist the EU. This, coupled with speculation that the US Federal Reserve will commence a third round of quantitative easing, facilitated a sell-off of the US Dollar today that has kept the EUR and GBP high. This should stimulate early buying by European distributors.