Wednesday, September 10, 2008

King Dollar Hits One-Year High vs. Major Currencies

NEW YORK, Sept 10 (Reuters) - The U.S. dollar climbed to a fresh one-year high against major currencies on Wednesday and surged to nearly 12-month highs versus the euro, as falling oil prices and a bounce in U.S. stocks overcame worries about the health of financial firms (see chart above).

5 Comments:

At 9/10/2008 5:54 PM, Blogger the buggy professor said...

Good news, Mark --- and a good chart (as usual). Thank you.

Let us hope that --- with most of the EU (in the western half for sure) falling into recession, and Japan as it usually does tumbling into the upteenth recession since 1991 --- China, the smaller Pacific Asian countries, and India keep growing . . . enough at any rate to sustain high-levels of US exports to them.

Right now, unless US consumer spending recovers quickly, export-led growth is about the only stimulus keeping us out of recession too.

...

Michael Gordon, AKA, the buggy professor

 
At 9/10/2008 7:19 PM, Anonymous Fred said...

It may be good news. It may mean that other currencies/economies are very worse off than the U.S.

 
At 9/10/2008 9:08 PM, Blogger bobble said...

there go the exports

 
At 9/10/2008 11:20 PM, Blogger Dave Narby said...

...What bobble said...

 
At 9/11/2008 7:01 AM, Anonymous Anonymous said...

That be deflation as the zombie US banking system is freezing up and like a giant black-hole sucking in capital around the world. Velocity of money is falling. The US government is the economy now. Just like Japan. This will be followed by hyperinflation in a couple of years as the currency collapse due to the inability of the US to service it's massive debt burden as they are already borrowing money to pay interest on the interest.

 

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