Thursday, November 18, 2010

US Dollar Declines Against the Euro . . . Again

After a  brief climb back from the bottom, the US Dollar is once again heading down against the Euro. Surprised?
The US dollar on Thursday again declined against the euro as Ireland neared a bailout plan to tackle its debt.  The euro rose to 1.3644 dollars at around 2200 GMT from 1.3530 dollars late on Wednesday while the greenback rose against the Japanese currency to 83.49 yen from 83.16 yen the previous day.

The euro has come under pressure in recent days as the eurozone struggles to deal with alarming levels of sovereign debt in Ireland.  "The euro is bouncing today on further signs that a bailout announcement for Ireland is imminent," said analyst Vassili Serebriakov of Wells Fargo FX Express.
US dollar declines against euro - Channel NewsAsia

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Breaking US Dollar Collapse News

What's Behind the Decline of the US Dollar?

This is one the of the best and simplest explanations we have seen:
The U.S. dollar's downward slide is accelerating as low interest rates, inflation concerns and the massive federal budget deficit undermine the currency. - Wall Street Journal, April 23, 2011
Interestingly, the Federal Reserve is responsible for, or an active participant in all three of these factors.