Dollar hits record low against euro

Post #283,264 by JayMehaffey 4/27/07 7:14:29 PM Reply	Dollar hits record low against euro [link\|http://www.msnbc.msn.com/id/18349467\|MSNBC] The dollar slumped to a record low against the euro on Friday as weak U.S. growth figures reinforced fears of a widening economic disparity between Europe and the United States. The euro's surge will not be kind to Americans visiting Europe this summer, who will pay more for hotel rooms in Rome, entrance fees at the Louvre and chocolates in Belgium. The euro hit $1.3682, shooting past its previous high of $1.3667 from December 2004, after the U.S. Commerce Department reported that economic growth slowed to a 1.3 percent annual rate in the first quarter, its weakest performance in four years. The combination of the the euro going up do to strong European economic news and the dollar going down do to bad American economic news pushed it into record territory. Don't expect this situation to change any time soon. The euro is hitting record highs globally while the dollar is hitting record lows across the board. The US economy looks to be entering a slump that will last several years, with the possibility of a recession later this year or next year. The European economy overall looks to be growing and doing so independent of the US economy. Jay
Post #283,266 by Another Scott 4/27/07 7:54:06 PM Reply	Careful. The [link\|http://en.wikipedia.org/wiki/Euro\|Euro] has only existed as a currency since 1999. An "all-time high" for it really isn't saying much. The slide of the dollar versus the UK Pound (GBP) is a much better indication of the decline in our currency and how it fit with history. The GBP is not anywhere near as strong as it once was, and the dollar isn't as weak as it's been in the past. This is a graph of USD per GBP from [link\|http://www.miketodd.net/encyc/dollhist-graph.htm\|here]: [image\|http://www.miketodd.net/encyc/dollar-long.gif\|0\|Dollars per GBP since 1945\|302\|562] The dollar is having troubles - a reflection of troubles in the US economy and the relative strength of foreign economies. But it's not hitting "record lows across the board". Cheers, Scott.
Post #283,399 by mmoffitt 4/30/07 1:53:45 PM Reply	You, too, be careful. With your optimism. Check this out: [link\|http://finance.yahoo.com/currency/convert?from=USD&to=RUB&amt=1&t=5y\|http://finance.yahoo...to=RUB&amt=1&t=5y] bcnu, Mikem It would seem, therefore, that the three human impulses embodied in religion are fear, conceit, and hatred. The purpose of religion, one might say, is to give an air of respectibility to these passions. -- Bertrand Russell

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