Wednesday, September 26, 2007

Dollar falls to another euro low

According to the following BBC News article, the U.S. Dollar falls to another Euro low:

"Momentum to sell the dollar remains strong," said Hideaki Inoue, foreign exchange manager at Mitsubishi UFJ Trust and Banking in Tokyo.

In further bad news for the US economy on Wednesday, orders for durable goods, which include everything from washing machines to commercial jets, fell by a bigger-than-expected 4.9%.

The high value of the euro has caused concern among European exporters, as it makes their products more expensive in the US.

This could lead to some smart investment in progressive, anti-war forces that have hard currency to invest, or it could mean that the U.S. is going to be written off, generally because of our rogue-nation status in exporting wars and weapons and the pattern of fraud in our financial markets (BCCI, Enron, WorldCom, and the Subprime Mortgage Meltdown/hedge funds fiascos)


Post a Comment

<< Home