Euro hits new all-time high against U.S. dollar

Euro hits new all-time high against U.S. dollar

edition.cnn.com

"The dollar, which has hovered within a few cents of its record low over recent weeks, has come under new pressure since the U.S. Labor Department issued unexpectedly poor August jobs data on Friday."

"It also fell against the Japanese currency, even as Prime Minister Shinzo Abe announced that he would resign, putting an end to his troubled year-old government. The dollar slid to 113.92 yen from 114.30 yen."

(visit the link for the full news article)

Seems like the economic collapse is right on schedule. =(

edition.cnn.com
(visit the link for the full news article)

[edit on 12-9-2007 by djpaec]

reply to post by djpaec


your title is a tad misleading. it isn't the euro at an all time high, it is the dollar at an all time record low against it which kind of changes peoples perception when you say it that way.

um.... it's the title of the article over at CNN? Take it up with them, it's not my fault I told CNN I want their Internation News.

According to my platforms the high today is $139.13 euro to $1.00 US dollar.

and if anyone has been paying attention to Forex, hopefully you were able to see this coming and booked some profits.

and I think the title of article is fine. Euro hit all time high against dollar.. makes sense.

Originally posted by justyc
your title is a tad misleading.

You're supposed to use the original title from the story.

But I agree, it's really about the dollars hitting record lows (The dollar slumped to a 15 year low against 6 of its most actively traded peers) but CNN won't word it that way for obvious reasons.

Last Friday I mentioned that the dollar index had broken below it's support line around 80 and that this would make news over the weekend.

I guess I was a few days too early.
See: Stocks [and Dollar] Plunge After Weak Jobs Report
.
edit: link fixed


[edit on 9/12/2007 by Gools]

In 2001, after 9-11, which she had predicted, Dr Koryagina
[Russian economist] was interviewed on a Dallas radio station.
At the end of the interview when she was asked what will be
the next events that happen she said the shadow group...
will accelerate deterioration of the world economy of the world
financial structure and one of the major steps that they will
undertake will be the total collapse of the US dollar. I think
the dollar is doomed and dollar as world currency will be buried
for good and it will be worth nothing. New currency will emerge
and it will be under control of this group and their banks.

Well something has to be done since the house of Representatives are blocking their NAFTA(NAU) Mexican truck plan. Senate votes to block Mexican trucks. Isn't it funny how Bush would encourage a plan brokered under Clinton, while most of us are lead to believe that Bush repealed anything clinton had done. Makes me proud of my friends that chose to protest the Nafta meeting in Miami all those years ago.

It seems like dark times indeed, I can't help but feel us in good ole palm beach county are going to be targets of these mad men.

If the Fed is forced to cut rates the dollar will plunge. This is why there is such a rush to the war with iran.

Related story: Oil hits record $80 US a barrel

A rate cut is already priced into the system and some are saying that a half point cut is what is expected/hoped for. Anything short of that and the market will be "disappointed" and react accordingly. In addition this Friday will be an interesting day for the markets as mentioned here: www.abovetopsecret.com...
.

Originally posted by sp00n1

If the Fed is forced to cut rates the dollar will plunge.

This is why there is such a rush to the war with iran.

Rush is right !

Well, actually it may be an understatement !

Dollar tanking big time.

Must see/hear video at link below


www.tickerforum.org...

The slide continues:

Euro Near $1.40 Amid Concern About Growth Impact

The euro hit a second all-time record against the greenback in as many days on Thursday, buying $1.3920, before slipping slightly to trade at $1.3894 in the afternoon. After having reached $1.3908 late on Wednesday, it then closed that day in Europe at $1.3906.

But as the European Central Bank, unlike its British and U.S. counterparts, continues to focus on monetary tightening, the euro is expected to continue to gain strength.

"The strength of the euro against the dollar adds to the increased pressures facing euro zone growth currently stemming from the global credit crunch and financial market volatility, as well as elevated oil prices," said Archer. However, he added that of greater concern to the bank will be the impact of a slowdown of the global economy. "The euro would have to shoot up above $1.50 to have a marked effect on growth."

I can only imagine the repercussions if the Euro does go all the way to $1.50.

FYI here is a one year chart of the USD index.
Note that it has fallen in value by around 10% the past year alone.



Now that's ugly!
.

One more issue here is how much China is helping the dollar plunge, many experts are afraid of what China is doing quietly.

China may lead US economy to collapse dumping US dollar

www.inteldaily.com...

Sometimes is the hidden agendas the ones that nobody ever consider when making assumptions on the markets woes.

Euro posted a new high following the Fed's rate cut. New high currently $139.81.

now I think the euro "just has to" touch $1.40, what's after that? I have no idea!