Friday, February 24, 2012

Euro Rebounds Against the Dollar: Biggest Increase in Two Months

Good news for the Greek debt crisis, bad news for your US Dollars.

The euro climbed against the dollar and the yen as a report showed German business confidence rose to the highest level in seven months in February amid progress in taming the region’s debt crisis.

The 17-nation currency increased to the most in more than two months versus dollar as U.S. initial jobless claims held at a four-year low, damping demand for safety. The yen rose against the greenback, snapping a five-day losing streak that was its longest in 10 months. Norway’s krone reached its strongest level against the euro in nine years as a measure of volatility among Group of Seven currencies dropped to a more than a three-year low.

Euro Advances Against Dollar, Yen as German Confidence Jumps - Businessweek

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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.