climbingrose - 1:06 am on Oct 10, 2008 (gmt 0)

I might be wrong but the relative strength of US/Euro won't give European publishers much advantage if their main audiences are from Europe. Consider this:

You get paid in US Dollars which then will be converted into Euro. If US/Euro gets higher, you get more income. On the other hand, advertisers in Euro will pay Google in Euro, which converted into US Dollars. Now Google will get less than they normally get. As a result, the payout to publishers will be less than usual.