The Greenback Hits At Two-Year High
The U.S. dollar index (major currencies) hit a two-year high today, reaching the highest level since October 16, 2006 (see chart above). CARPE DIEM
Professor Mark J. Perry's Blog for Economics and Finance
Wednesday, October 22, 2008
About Me
- Name: Mark J. Perry
- Location: Washington, D.C., United States
Dr. Mark J. Perry is a professor of economics and finance in the School of Management at the Flint campus of the University of Michigan. Perry holds two graduate degrees in economics (M.A. and Ph.D.) from George Mason University near Washington, D.C. In addition, he holds an MBA degree in finance from the Curtis L. Carlson School of Management at the University of Minnesota. In addition to a faculty appointment at the University of Michigan-Flint, Perry is also a visiting scholar at The American Enterprise Institute in Washington, D.C.
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6 Comments:
Typo: since October 16, 2006.
Why is the dollar gaining strength right now?
Safe haven.
Why is this good? Seems it will make our exports more costly.
Kevin, It's good because it means our imports are cheaper. And since we are net importers...
The dollar didn't gain strength, it simply isn't losing value as fast as other currencies.
There is no valid reason to explain rising of dollar. It's just fuckin speculation again.
This only create inestability and lost trust at the free currency flotation system.
As I have said before, this is a cash contraction caused by the lowering of interest rates. The value of money is strictly dependent on its scarcity. When there is less dollars circulating then each one is valued more.
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