Dollar falls once again to 15 year low!

Michael · **Dollar falls once again to 15 year low! -** 11-29-2006, 10:36 AM

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US setbacks see dollar plunge to near 15-year low

The dollar tumbled to a near 15-year low against sterling yesterday on fresh signs of economic trouble in the United States.

An 8.3pc crash in US industrial orders and an admission by the Federal Reserve chairman that Washington does not know how bad housing really is set off another day of wild gyrations on the currency markets.

US house prices fell 3.5pc to an average $221,000, the third month of declines. Stocks of unsold homes rose to 7.4 months' supply, the highest since 1993. The US consumer confidence index fell sharply to 102.9.

The "truckers index" of tonnage shipped by US haulage companies was down 1.8pc in October, a leading indicator of contraction. Merrill Lynch called the fall "borderline recessionary".

The dollar continued its slide against the euro, dropping to $1.3194 after the Federal Reserve chairman, Ben Bernanke, said the housing slump "would be a drag on economic growth into next year". Mr Bernanke said official figures did not pick up the "sharp increase" in cancellations on house deals and might understate the inventory glut.

Centurion · **Re: Dollar falls once again to 15 year low! -** 11-29-2006, 01:26 PM

I have absolutley no problem with this. Thanks to the dollar having such a low value merchandise are 30% cheaper in the USA, for us Swedes.
More power to us.

Tycoon · **Re: Dollar falls once again to 15 year low! -** 11-29-2006, 01:29 PM

Quote:

Originally Posted by Luwalira

I have absolutley no problem with this. Thanks to the dollar having such a low value merchandise are 30% cheaper in the USA, for us Swedes.
More power to us.

But it does give me a headache in my business, since the price of steel and raw material is in $ and i'm selling repromaterial in €!!!

Michael · **Re: Dollar falls once again to 15 year low! -** 12-01-2006, 08:51 AM

Here we go again!

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Oh boy, this is not looking good.

The LB is nearly 1.96now! woah!

Tycoon · **Re: Dollar falls once again to 15 year low! -** 12-01-2006, 08:54 AM

Quote:

Originally Posted by The Article

The euro rose 0.7 per cent against the dollar to $1.3247 by late afternoon in New York after data from Chicago purchasing managers indicated that business activity in the Midwest unexpectedly fell last month.

Not good... Not good at all...