Dollar slides to fresh euro low

[eppur_se_muova]

Source: BBC

The dollar has fallen to a new record low against the euro, amid continued fears over the state of the US economy and worsening credit conditions.

The US Federal Reserve has cut a key lending rate, but the move failed to buoy investor confidence.

At one stage it took $1.5904 to buy one euro, before it strengthened to $1.5761 in afternoon trade in New York.

With giant investment bank Bear Stearns needing emergency rescue, investors are concerned other banks may follow suit.

Read more: http://news.bbc.co.uk/2/hi/business/7300231.stm

---

[joeybee12]

1. They should save newsprint...keep this headline for the next few months...

...it's not gonna change anytime soon!

[slackmaster]

4. You may need the newsprint yourself

If the price of toilet paper gets too high.

:hurts:

[slackmaster]

2. I know what this means for San Diego

Lots of tourists from Europe and East Asia.

Maybe I should quit my job and start driving a pedicab downtown.

[maxsolomon]

3. to think i went to europe when it was "inexpensive" & it nearly killed me.

@ $1.40 to the euro, it was harsh. especially in Paris.

but amsterdam had some products that were priced reasonably. :smoke:

[dogfacedboy]

8. My son is currently touring UK/Netherlands. He bought Euros

a few months ago at a much cheaper rate than he could now. He said he's about $.35 ahead per Euro.
He just e-mailed me a photo of some items he shopped for in Amsterdam. I'm jealous. LOL.

[connecticut yankee]

5. That's why we're not traveling to Europe

There are so many wonderful places to see in this country, my husband and I are going to travel here, at least for the next few years. No place in Europe has the natural wonders found in the US.

[Tesha]

6. You haven't been to the right parts of Europe then. (NT)

[HuskiesHowls]

7. A strong dollar???

"US Treasury Secretary Henry Paulson ...said that the US government had a "strong dollar policy", which was in the nation's interest."

Everyone in this current (mis)administration keeps saying that, but nothing has been done to prove that. Everything has been done to drive the dollar down....all but giving the printing plates to counterfeiters and saying "have at it"!!!

The past 7 years have been an exercise in destroying the dollar...and its working just great!

[Supersedeas]

9. classic Bushian doublespeak

[LibertyLover]

10. Off topic, but I love your user name

I have a Husky and he definately howls. :-) A rather belated hello and welcome.

[KOBUK]

11. Malamutes howl louder !

[Art_from_Ark]

16. "Strong" means it's strong

against the Zimbabwe dollar

[sarcasmo]

12. By Christmas it will be two to one.

[AX10]

13. The picture

:rofl:

[HamdenRice]

14. Everytime they prop up US banks and stock market they knock down the dollar

These are actually two opposite things. They lower interest rates to prop up the US economy in an attempt to increase liquidity.

But that makes the US less attractive to foreign investors in US bonds, which causes bonds and US currency to be dumped, which lowers the value of the dollar against the Euro.


They are sacrificing the dollar to prop up the banking system.

[CreekDog]

15. can i short sell the dollar?

:shrug: