Dollar plunges to fresh euro low

The US dollar fell to a new low against the euro after the latest piece of US economic data.

 

Labour department figures showed the number of people seeking unemployment benefit had leapt by the largest amount since February.

 

The data boosted expectations that US interest rates could be cut further before the end of the year.

 

The euro hit a high of $1.4305 on Thursday, before settling at 1.4293 in late US trade.

 

It broke the previous record, set on 1 October, when one euro bought $1.4282.

 

Expectation that the US will lower borrowing costs - while intended to boost the economy - can also make the currency less attractive.

 

The move can act as a brake on investments in the dollar, as investors seek to place their money where deposits can lead to better returns.

Export implications

 

The labour department figures, which showed an extra 28,000 claims for benefit, came a day after data showing the construction of new homes and apartments in the US had plunged to a 14-year low in September.

 

The dollar has been sliding since the Federal Reserve cut rates from 5.25% to 4.75% in September to help rejuvenate confidence in the world's largest economy.

 

This followed a summer of turmoil in the world's credit markets, sparked by record loan defaults in the US sub-prime mortgage sector.

 

Since then, a raft of mostly disappointing economic news and soft inflation figures has prompted anticipation of further rate cuts.

 

While analysts expect the US Federal Reserve to cut interest rates, the European Central Bank is tipped to raise rates within coming months.

 

There are fears in Europe that a strong euro relative to the dollar could harm exports to the US and China.

 

Story from BBC NEWS:

http://news.bbc.co.uk/go/pr/fr/-/1/hi/business/7051141.stm

ALL AMERICANS MUST BE AWARE THAT THE DOLLAR IS BEING BADMOUTHED AROSS YOUR MEDIA EVERY DAY.

 

IT'S BEING SET UP TO FALL EVEN LOWER....AND THEN EVENTUALLY DIE.

 

YOU ALL REALLY NEED TO BE AWRE OF THIS.....THAT IT'S BEING BROUGHT DOWN ON PURPOSE!

 

EVEN THE STOCK MARKET IS A FALSE INDEX TOO....IT'S FAR WORSE THAN THAT.

 

 

HERE's PRESIDENTIAL CANDIDATE RON PAUL - YOU NEED HIM TO WIN - IF YOU WANT ANY REAL FUTURE...SERIOUSLY

 

http://www.youtube.com/watch?v=AeHWW5gbc0w

 

 

 

READ THIS http://infowars.net/articles/september2007/180907Greenspan.htm

Heh... when the Canadian dollar is worth 1.03 US you know something is wrong... Goodness, when I was in highschool, it was barely worth more than sixty cents... :worried: I mean, it's nice that things are actually affordable for a change, but... Not good.

One good thing is coming out of this... hosting for Coldplaying.com is cheaper than it has been. Let's hope the slide continues ;)

Another good thing about the weak dollar is that things cost less when you import from directly from the states.

 

Gareth, is it being bad mouthed to make way for the Amero?

Another good thing about the weak dollar is that things cost less when you import from directly from the states.

 

Gareth, is it being bad mouthed to make way for the Amero?

 

I actually wouldn't be calling this good.

 

It's showing that pretty much one of the supposed strongest countries in the world (in many respects) can be brought to it's knees this way - and without most of the US population even knowing.

 

Also, David - Yes, it's a long term plan to bring a North American Union (NAU) in with the single Amero currency.......Ex Mexican President, Vicente Fox even said it on Larry King Live in the US recently, that the plan is there.....to merge US, Mexico & Canada in this way + there's no debating that this exists now....it's FACT.

 

It boggles my mind that serious matters don't seem to get more people pissed off - while minor issues in celebrity land cause huge debates around water coolers at places of work.

 

Americans are going to get royally screwed and most aren't aware it's actually happening - they are being fed false positives by the media in relation to stock market growths.

 

The Federal Reserve (which should be gone from the planet) are pumping out paper dollars like there's no tomorrow and it's driving the dollar's worth to new lows......the type of low that really is going to hurt...

 

It's all engineered. The Global Elite's thoughts are that the USA must fall....it must be looted and when mass gun prohibition is in place....then all the foreign and illegals they have now trained in the Police with start rounding up masses of people into camps. Trust me, It's a long term plan but I've seen such camps on video and read documents where it states that these camps of "For US Citizens". It's messed up.

 

 

Just like us in the UK....where we aren't being given a choice and the EU is going to be a law making hub where we have no say, less rights and only the illusion of sovereignty.

The United States of Europe is already here, with Mr Brown signing that Treaty, he's gonna pay for it when elections come around in a few years time.

 

What's wrong with being able to buy a CD or DVD from America for less than half-the-price in this country?

Wow. I'm so moving out of this lame ass country when I graduate... :laugh3:

What's wrong with being able to buy a CD or DVD from America for less than half-the-price in this country?

 

Oh, no, there's not really.....everybody uses currency strengths like that - including me.