Dollar Near All-Time Low Vs Euro (Tokyo - Monday)

[Khephra]

TOKYO (Reuters) - The dollar held just off a record low against the euro on Monday, but downward pressure remained strong after a euro-zone minister showed little concern over the European currency's recent strength.

Dutch Finance Minister Gerrit Zalm was quoted as saying on Friday that the euro's rise was still within acceptable margins.

"Zalm's comments gave another push for the euro," said Tohru Sasaki, chief forex strategist at JPMorgan Chase.

"I expect dollar-selling to continue through the year-end and the New Year."

http://www.reuters.com/financeNewsArticle.jhtml?type=businessNews&storyID=7180723

[mcscajun]

1. Link didn't work

May I suggest?

http://tinyurl.com/

[Khephra]

2. Thanks for the link!

I was already on my way to find a better one, so it's already corrected. I'll be sure to use it next time.

[lovuian]

3. Ya the dollar is going to be down down down!!!

Until the EU steps in!!!

[termo]

7. waiting for christmas ?

the problem for EU is not the cheap green note, but the fact china's currency is linked to it.

if this link is broken, then we won't bother anymore of the dollar.

keep in mind a lot of contries have their debt in dollar, lower dollar means lower debt.

[VegasWolf]

4. Well, with at awol at the helm who wants to be holding US dollars?

[tabasco]

5. Credit card republicans ruining our economy.

Borrow & spend like there's no tomorrow. The only thing propping up the flimsy Bush economy is military spending.

[HereSince1628]

8. I fear this is all part of GOP's long desire for "taming the beast"

They simulatneously cut revenue and build the national debt. At some point there are only 2 things the GOP will think worth paying for...military and service on the debt.

All those librul handout programs like Soc.Sec. and Medicare will just have to end.

[proudbluestater]

6. Suddenly there are not that many daily headlines about the

decline of the dollar. Hmmm, wonder who put the kibosh on that one.

[UpInArms]

9. here's one for you

http://quote.bloomberg.com/apps/news?pid=10000006&sid=aayleQok7kDM&refer=home

Dollar Heads for Worst Quarter Versus Euro in More Than 2 Years

Dec. 27 (Bloomberg) -- The dollar is heading for the biggest quarterly decline against the euro in more than two years and may weaken versus the yen on speculation U.S. officials will allow a prolonged slide into 2005, according to a survey by Bloomberg News of 58 traders and strategists from Tokyo to New York.

Almost sixty percent of the participants polled from Dec. 22 to Dec. 24 advised selling the dollar against the euro. The dollar is down 8.1 percent this quarter and fell to a record $1.3548 per euro on Dec. 24. Forty-three percent said to sell the dollar versus the yen, up from 39 percent.

Investors are betting the Bush administration won't try to stop the dollar's decline because it will help narrow the U.S. trade deficit from an all-time high, said Matt Cobon, who manages currency risk in London at Deutsche Asset Management. The European Central Bank has offered no sign it's prepared to stem the slide, which has pushed the U.S. currency toward a third consecutive annual drop versus the euro, he said.

<snip>

Biggest Since Reagan

The dollar has lost 5.2 percent this year as measured by the Federal Reserve's Trade-Weighted Major Currency Dollar Index. It dropped 15.8 and 9.3 percent in the previous two years. The index hasn't retreated for three consecutive years since Ronald Reagan was in the White House.

...more...

[0007]

10. If the dollar gets any lower they'll have to rename the "Dollar Stores"