JeffWartman
Senior Member
The dollar is falling, and there seems to be no end in sight. If you actually believe we are in good economic shape, I suggest you take an Intro to Macro course.
Full story: http://www.bloomberg.com/apps/news?pid=20601087&sid=ar3a9gqZqBLk&refer=worldwide
Dollar Falls to Record Low Versus Euro; Fed May Lower Rates
By Bo Nielsen and Min Zeng
Nov. 6 (Bloomberg) -- The dollar fell to a record low against the euro on speculation financial-company losses from U.S. subprime-mortgage defaults will grow, prompting the Federal Reserve to cut interest rates for a third time this year.
The U.S. dollar declined versus all 16 of the most-actively traded currencies after Fed Governor Randall Kroszner said conditions for subprime-mortgage borrowers may worsen. The dollar fell against high-yielding currencies, including 1.2 percent drops versus the Brazilian real and South African rand.
``The dollar is undermined by growth and interest-rate differentials,'' said Samarjit Shankar, director of global strategy for the Global Markets group in Boston at Bank of New York Mellon, the world's largest custodian bank with over $20 trillion in assets under administration. ``The U.S. is the epicenter of the subprime crisis.'' .....
Full story: http://www.bloomberg.com/apps/news?pid=20601087&sid=ar3a9gqZqBLk&refer=worldwide
Dollar Falls to Record Low Versus Euro; Fed May Lower Rates
By Bo Nielsen and Min Zeng
Nov. 6 (Bloomberg) -- The dollar fell to a record low against the euro on speculation financial-company losses from U.S. subprime-mortgage defaults will grow, prompting the Federal Reserve to cut interest rates for a third time this year.
The U.S. dollar declined versus all 16 of the most-actively traded currencies after Fed Governor Randall Kroszner said conditions for subprime-mortgage borrowers may worsen. The dollar fell against high-yielding currencies, including 1.2 percent drops versus the Brazilian real and South African rand.
``The dollar is undermined by growth and interest-rate differentials,'' said Samarjit Shankar, director of global strategy for the Global Markets group in Boston at Bank of New York Mellon, the world's largest custodian bank with over $20 trillion in assets under administration. ``The U.S. is the epicenter of the subprime crisis.'' .....
