Dollar weakens as a result of auto bailout uncertainty

[unhappycamper]

Dollar weakens as a result of auto bailout uncertainty
By Steve Mraz, Stars and Stripes
European edition, Saturday, December 13, 2008

KAISERSLAUTERN, Germany — Remember in November when the dollar was soaring against the euro?

Those days of an improving conversion rate appear to be over — at least for now — as the dollar slid to a seven-week low against the euro Thursday.

At Community Bank on Wednesday, $1.33 bought you one euro, according to its Web site. The next day that same euro cost you nearly $1.36, and the weekend conversion rate at Community Bank is $1.37

The exchange rate hasn’t been this bad since late October.

So why the sudden, drastic drop after predictions a few months ago that the dollar would continue to gain on the euro?


Rest of article at: http://www.stripes.com/article.asp?section=104&article=59383