Bloomberg News reports that Brazilian supermodel Gisele Bundchen refuses to be paid in dollars. In addition to landing undefeated (9-0) New England Patriots quarterback Tom Brady -- although that relationship could be on the rocks -- she is one savvy currency trader.
Gisele Bundchen is proving to be a shrewd analyst of the U.S. dollar's weakness. When Bundchen signed a contract in August to represent Pantene hair products for Procter & Gamble Co. (NYSE: PG), she demanded payment in euros. She'll also get euros for the deal she reached last October with Dolce & Gabbana SpA in Milan to promote the Italian designer's new fragrance.
"Contracts starting now are more attractive in euros because we don't know what will happen to the dollar," Patricia Bundchen, the model's twin sister and manager in Brazil, said in a telephone interview in September from Sao Paulo.
Those Bundchens are smart cookies! Too bad I can't say the same for Treasury Secretary Hank Paulson and his strong dollar policy.
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