Dollar up Against the Euro and the British Pound...

Damocles

Damocles

Accedo!
Staff member
http://news.bbc.co.uk/2/hi/business/7581531.stm

Dollar increases against the euro

The dollar has climbed back to a six-month high against the euro, as continuing fears about the European economy hit the single currency.

With a key German business sentiment survey posting its worst reading in three years, the euro fell as low as $1.4571 in Tuesday trading.

Data showing that the German economy contracted from April to June, also increased European recession fears.

Meanwhile, the pound fell to $1.8331, its lowest point since July 2006.

Deteriorating outlook

The US currency has benefited as the economic outlook has darkened in both mainland Europe and the UK.

More at link...
 
It would be better if the dollar went up becuase we were improving, not that the euro nations are dropping as bad as or worse than we are.
 
uscitizen said:
It would be better if the dollar went up becuase we were improving, not that the euro nations are dropping as bad as or worse than we are.
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Europeans also welcome a return to a more competitive exchange rate for the euro against the dollar. One of the major concerns that has been exercising the European Central Bank for the last 18 months has been the freefall in the value of the US dollar and the ballooning deficit and current account trade balance that has contributed significantly to the volatility of the global financial system. A stronger US economy, when it happens, is to be welcomed, as will be the US gaining much better control over its government finances.

I think, however, that you will find that the European economy is far from achieving the current lows of the US economy. We are unlikely to dip into recession, although we are seeing a fall in the rate of growth in economic activity consequent on the slippage in consumer and business sentiment. The eurozone is trading very strongly and government deficits are at manageable levels.
 
its cyclical and the dollar was oversold. 09 looks to be a bull market at this point. line up your duckets.
 
Always the same story from the finiancial types. Just another 6 months...

The parking lot at the mall was pretty full Sunday. ;)
 
uscitizen said:
Always the same story from the finiancial types. Just another 6 months...

The parking lot at the mall was pretty full Sunday. ;)
Click to expand...

well seems for now we are going to barley avoid a technical recession.. not sure how we pulled that off.

Things looking bullish for next year except for housing.
 
if we go into a sustained bull next year under obama the dems will claim its because its there administration and nothing to do with the cyclical nature of the markets or the tax cuts.

Also they will be the first to tell u the late 90's boom was because they raised taxes in 1993.

Its great fun to watch.
 
I don't think we will have to worry who will claim credit for the economic boom in the first quarter of next year. Because there isn't going to be one.
 
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