Because of this, he said, the dollar may not drop much further if and when the Fed finally acts.

The dollar has also dropped 2.4 percent against the German mark.

If the dollar drops dramatically, interest rates would get high indeed.

But against America's other trading partners, the dollar has dropped only 6 percent.

Although many economists are still predicting that the dollar will drop, the seven leading countries can say they have had some success.

He added that "if the dollar drops any further, it could have a more severe impact."

The dollar has dropped 19 percent against the euro over the last year.

The dollar has dropped more than 12 yen in the last month.

On that basis, the dollar has dropped just 14 percent since July 2001.

"The two dollars you picked up, I dropped on purpose."