Dollar Drifts Lower Versus Euro

[Tom Yossarian Joad]

http://www.boston.com/business/markets/articles/2003/11/26/dollar_drifts_lower_versus_euro/

LONDON (Reuters) - The dollar fell to within 1-1/2 cents of a recent record low versus the euro on Wednesday as concerns over structural problems in the U.S. economy and geopolitical jitters outweighed a recent series of upbeat data.

Trading volumes fell in currency markets ahead of Thursday's Thanksgiving holiday in the United States and analysts said some investors were reluctant to hold dollars in case any geopolitical flare-ups hit the currency over the holiday.

During mid-day trading in Europe, investors awaited a raft of new U.S. figures later in the day, including jobless claims, durable goods orders, new home sales, University of Michigan consumer sentiment data and the Chicago purchasing management index.

Data on Tuesday showed the U.S. economy growing at an annual rate of 8.2 percent in July-September, the strongest quarterly advance in almost 20 years. But the dollar failed to gain, drifting as low as $1.1847 in the European session.

<snip>

Sounds like an economic recovery to me.
Not.

[54anickel]

1. Hey, we're supposed to be watching the UE claims and GDP!!!

Pay no attention to that man behind the curtain!!!
Happy Days are here - Go shopping. Follow the example of your fearless leaders and spend like there is no tomorow!

The dollar, gold, interest rates, are immaterial!

[joeybee12]

2. Can anybody spell "DE-pression????"

Soup lines, here I come!!!!!!!!!!!