Dollar Sags, Burdened by Iraq, U.S. Data

[Spazito]

NEW YORK (Reuters) - The dollar sank against major currencies on Thursday as steady U.S. jobless claims and a moderately disappointing trade deficit number fueled doubts about the economic recovery in the United States.


The greenback dropped in a third straight day of selling, fed by a host of other factors, including geopolitical tensions, which damaged investor appetite for the U.S. currency.


"The market is going to require further validation of the economic recovery in terms of job growth. At this time, the quality of the recovery and geopolitical issues are coming into play. I think the dollar will continue to drift lower," said John McCarthy, director of foreign exchange at ING Capital.

<snip>

This puts further stress on the U.S. need to attract investment to plug the gap, and traders said it was one reason investors unwound long dollar positions built up in the past two weeks.

more

http://story.news.yahoo.com/news?tmpl=story&cid=568&e=1&u=/nm/markets_forex_dc

[denverbill]

1. DAMN THAT CLINTON RECESSION!!!

Just last week, the Bush recovery from the Clinton recession was starting to take hold, but now, apparently some decision Clinton made years ago about economic policy has started to influence the economy once again, dragging us back down. Whereas it was obviously George W Bush's tax cuts which generated the great numbers last week, just as obviously, it's the Clinton policies which caused the downturn this week.

[Spazito]

2. LOL Yep, damn that Clinton power eh!

*

[young_at_heart]

4. Undoing the Clinton "damage" has been a monumental task!

I mean, look how long it has taken to create our biggest deficit ever. Clinton's surplus didn't help our country, Americans.

[DeathvadeR]

3. A nation of depressed people in a depression won't be very pretty..

<>

[bif]

5. Bull

George just said the economy was getting better!

[librechik]

8. yeah, only cuz he wants the dollar to tank!

everything is proceeding according to the RW plan. Let's all hope they can pull up this stalling Airbus before it actually crashes into the sea!

[DBoon]

6. darn biased liberal investors

Don't believe the TRUTH coming out of our news media, that we are strong and invincible, and that there is nothing but good news to be found.


They should all go back to the soviet union where they belong!

(My sarcasm meter just pinned)

[malachi]

7. Just returned from a trip to Ireland and

the $ is taking a major league ass-whooping against the Euro. Chimpy and his cohorts are doing such a fine job with the economy I figure that my next vacation will be a trip to Baltimore. Not that there's anything wrong with Baltimore. (I live in Philadelphia)

[West Coast Democrat]

9. Even going to Canada is no bargain anymore

the US dollar is VERY weak

[SidDithers]

10. Weak Greenback, and Canada's Trade Surplus went up anyway...

http://www.theglobeandmail.com/servlet/story/RTGAM.20031113.wtrade1113/BNStory/Business/

<snip>

In terms of trade with the United States, American companies bought $27.7-billion in Canadian merchandise in September, up 4.4 per cent. Those exports accounted for about 82 per cent of all shipments from this country.

Canada purchased $19.6-billion in merchandise from American firms, up 4 per cent from a month earlier.

<snip>

Sid

[DBoon]

11. Yeah but Canada actually MAKES something

Not like you neighbor to the south, who has exported all its manufacturing capabilities.