Latest Big Mac Index Suggests the Euro is Overvalued

20110731-big-mac-qb.jpgThe Economist reports that "currencies continue to be cheap in the developing world but overvalued in Europe" according to the Big Mac Index, an informal way of measuring countries' currency values by comparing the prices of their Big Macs against their actual exchange rates. (The Economist admits, "The Big Mac numbers should be taken with a generous pinch of salt. They are not a precise predictor of currency movements.") View the full Big Mac Index chart at economist.com.