US dollar touches a new euro low

[TechBear_Seattle]

Source: British Broadcasting Corporation (BBC)

The US dollar tumbled to yet another new low against the euro, as speculation mounted that US interest rates would be cut again next week.

The euro traded as high as $1.4375, breaking the record set last Friday, when one euro bought $1.4319.

The dollar did recover slightly to $1.4369 against the euro bloc currency.

A slew of weak data - including a drop-off in durable goods sales and plummeting demand for new homes - has underlined woes in the US economy.


Read more: http://news.bbc.co.uk/2/hi/business/7063733.stm

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I don't know if something that keeps happening on a regular basis can be classed as "late breaking news," but here it is anyway.

[Sal Minella]

1. I remember when the Euro first came out, it was valued at about 80 American cents.....nt

[PinkTiger]

2. It looks like no trips to europe for me until

Hillary is elected. Then I'm sure she will bring the ratio down to a nice 1.15, at least.

[DotGone]

13. Nevermind Europe. Can't go to Canada

The freakin' loonie is worth more than the US dollar. Seemed like only a few years ago when Canadians jumped at being paid with the US dollar. Now they'd probably throw it back in our faces if we tried to pay with it. Wonder what my Seagull guitar goes for nowadays.

[olddad56]

15. never mind Canada, can't go anywhere at $3.25 a gallon...

the dollar is dropping against the barrel of oil faster than anywhere else.

[Freedomofspeech]

3. We have friends who visited London two weeks ago...

They got 45 cents for every American dollar. Of course, they spent very little money while they were there. It's disgusting.

[dipsydoodle]

5. Did you mean

they got 45p for every US$ ?

[14thColony]

6. I live in the UK

but I get paid in US Dollars, which I then have to convert to pounds at the going rate. It makes it pretty tough, believe me.

[CountAllVotes]

7. wow that really does suck

I'm sure you get hit with the conversion rate. That right there makes the dollar worth maybe .40 cents by the time you convert it back and forth (this would be for those that are traveling).

It is wise to never convert too many US $ to any other currency if you know you'll be having to convert it back soon.

That is why I don't really believe that buying Euros as an investment is a good idea at the moment.

[Lone_Star_Dem]

4. I keep wondering how the Saudis will react if they do drop interest rates again.

If they were to ever unpeg the dollar we'll be calling these the good ol' days when we could get a euro for under a $1.44.

[Supersedeas]

8. the economy is strong -- profits are good -- the economy is strong

[NorthernSpy]

11. in which country?

:P

[Brrrp]

9. Iraq War inflation will be at least as bad as Vietnam War inflation nt

[FreeStateDemocrat]

10. I hope not, correct me if I'm wrong but I remember it hitting about 15%.

[olddad56]

16. isn't the real rate of inflation about that now?

if you through out the governments bogus CPI that excludes energy costs and food costs. What is the true rate of inflation and how do you calculate it?

A friend of mine says he thinks the best way to calculate is to simply see how much the Feds inflated the money supply month over month. Isn't that what inflation is all about. More dollars worth less. Feds keep the printing presses rolling to bail out the economy, it makes the the dollars worth less against more stable currencies.

I suppose you could calculate the dollars value against a euro now and what it was a year ago and get a feel for how much we have inflated the dollar.

[Brrrp]

18. Dollar v. Euro

I suppose you could calculate the dollars value against a euro now and what it was a year ago and get a feel for how much we have inflated the dollar.

This is a good criterion, provided we discount some for currency speculation.

[tabasco]

12. When it's a $1.50 they should put Bush's picture on it

and make it the fifty cent bill.

[ozone_man]

14. How low can you go

First you spread your limbo feet
Then you move to limbo beat
Limbo ankolimboneee,
Bend back like a limbo tree
Jack be limbo, Jack be quick
Jack go unda limbo stick
All around the limbo clock
Hey, let's do the limbo rock

http://www.lyricsdepot.com/chubby-checker/limbo-rock.html

Anyone want to call it? How low can the dollar go?

[dysfunctional press]

17. but on the upside-

as the dollar sinks lower and lower, the people with the most dollars(the 'have more's', *'s base) will lose the most money...:woohoo:

[Psephos]

20. You're the dog in the manger n/t

[midnight armadillo]

19. Jan 2, I'm opening a bank acct in euros

Everbank.com offers foreign currency denominated accounts, $2500 minimum. I'm going to put that amount from my year-end bonus in a euro account to give myself a wee little hedge.

[nebula]

21. hey, look on the bright side

the dollar's still worth more than a peso!







...for the time being at least!

[Canuckistanian]

22. Hey, that's good news for exports

Um, what do you export again?

[liberalla]

23. Gold is doing really well...

I hadn't checked it in a couple of weeks, but seeing your post made me think of it. Silver's not bad either.

Gold at 783.50
Silver at 14.17