Sep
20
EUR/USD, from Riz Din
September 20, 2007 |
This morning EUR/USD sliced through 1.40 like a knife through butter. The next pair on the 'round-number watch' is USD/CAD, which is getting close to 1.00 parity.
Comments
3 Comments so far
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CAD traded stonger than USD today-first time since 1976
My question is, how long can the dollar drop before its considered to be a problem? Obviously its not an issue to people right now. It’s collapsing yet its not a concern. I dont get it. Its collapsing and we get a 50 basis point reduction in rates. So it collapses some more. Is there no end? There must be, no? It surely must reach a point where it is dangerous for the economy, no? My purchasing power is getting destroyed yet its not considered to be a problem. This environment scares the daylights out of me. Hard not to think the worst when the dollar is plummeting like a rock for years and yet people are concentrating on how great the Dow is doing. Seems ridiculous.
it seems that’s the policy for the foreseeable future.
“is not the Fed role to bailout speculators” BUT “we’ll act as necessary to prevent spillovers”.
of course LIBOR is down half a point accordingly just enough to let the LBO guys sell their $300b debt. to cry ‘moral hazard’ at this point it’s obsolete.