Monday, January 2, 2012

US Dollar, Euro, Start New Year Off Weak

Why should 2012 be any different than 2011 for the US Dollar?

The U.S. dollar kicked off the year with mild losses during holiday-thinned volume, though the currency managed to hold gains versus the euro after data indicated manufacturing activity across the shared currency area shrank for a fifth straight month.The dollar index , which tracks the U.S. unit against six other currencies, slipped to 80.178 from 80.289 late Friday.The euro , however, lost ground versus the greenback to change hands at $1.2931, down from $1.2996 at the end of the previous week.

Dollar and euro begin 2012 on weak note - Currencies - MarketWatch

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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.