Thursday, Mar 13, 2008
Down the plughole
Independent: Dollar falls to record low against euro
"Fears that stresses in credit markets and the world economy as a whole are deteriorating despite central bank help hit financial markets today, sinking global stocks and sending the dollar tumbling. The dollar hit another record low against the euro and fell below 100 Japanese yen for the first time in 12 years", Gold rose.
Posted by alan @ 03:37 PM (326 views) Add Comment
2 Comments
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1. 51ck-6-51x said...
Wait for a relatively aggressive Fed cut next Tuesday - the markets currently imply a 0.75% cut, will it be 1%, 1.25%, ...?
Or will they anounce a 2 year treasury bond cap like back in the 40s? Or a 'temporary' 0% rate as Japan did for 'a while'?
Interesting times.
2. japanese uncle said...
Exactly the same fate is in store for the UK and GBP. A few months time-lag, but even severer here.