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Weak euro, strong machinery exports?

Could the Greek debt crisis, and its reverberations throughout the Euro zone, depress the unified currency in a manner that could boost European machinery makers? While there are numerous downsides to a weakened currency, not the least of which is diminished buying power, the euro's freefall against the dollar could make European made plastics machinery much more attractive to foreign buyers, just in time for the K show this October.

Over the last 120 days, the dollar to euro exchange rate has gone from a high of 1.51 on Dec. 3, 2009 to a low of 1.22 on May 17, a drop of 19.2%, according to X-Rates.com. That is the lowest trading level for the Euro against the dollar since April 17, 2006. Germany responded by limiting speculation on the currency, banning naked shorts on the euro, but the legions of machinery makers in the country might secretly be cheering the downward pressure on their currency and the discount of sorts it provides for foreign buyers. Should the trend continue through the fall, Euro zone K exhibitors might be able to offer a more competitive sales price to attendees doing machine shopping. 

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