Tuesday, September 18, 2007

Dollar doo-doo!

Dollar Drops to Record Low Versus Euro as Fed Cuts Half Point

The Dollar Index against six other major currencies sank to the lowest since September 1992 after the Fed cut its target rate for overnight loans between banks by the most since November 2002 amid concern that the worst housing slump in 16 years and increased borrowing costs for companies may threaten economic growth. Most analysts predicted only a quarter-point cut.

Posted by tyrellcorporation @ 08:11 PM (2057 views)
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6 thoughts on “Dollar doo-doo!

  • dont holla for the dollar

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  • tyrellcorporation says:

    I reckon rather than have all the agro of trying to get the Chinese to re-value the Yuan, The yanks are going to just devalue the Dollar to the Yuan’s level.

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  • tyrellcorporation says:

    The significantly weaker dollar will be importing inflation – a self perpetuating downward spiral?

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  • tyrellcorporation says:

    Rising jobless figures, falling house prices, falling output, higher inflation in the pipe, a weakening currency, foreclosures set to rocket after ARMs, 2 very expensive military fronts (and a third on the way) – What a mess!

    The market rally could and should be short-lived.

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  • They will gettheir economy spanked for this.

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  • I feel that whatever the Americans do now they are heading for recession. Tyrellcorporation is right about importing inflation.

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