Dollar Falls to Record Low of $1.50 per Euro

[katty]

more: http://www.bloomberg.com/apps/news?pid=20601087&sid=ayvv2bpptzZw&refer=home

Dollar Falls to Record Low of $1.50 per Euro on Rate Outlook

By Kosuke Goto and Stanley White

Feb. 27 (Bloomberg) -- The dollar fell to a record low of $1.50 per euro on speculation Federal Reserve Chairman Ben S. Bernanke today will indicate the U.S. central bank is prepared to keep lowering interest rates.

The currency is headed for its second straight monthly decline on expectations a U.S. government report today will show a drop in new home sales, bolstering the Fed's case for cutting its 3 percent target for the overnight lending rate between banks. The euro climbed to a six-week high against the yen as traders bet the European Central Bank will keep its 4 percent benchmark rate unchanged in coming months.

``We're going into a new leg of dollar weakness,'' Tony Morriss, a currency strategist in Sydney at Australia & New Zealand Banking Group Ltd., Australia's third-biggest bank, said in an interview with Bloomberg Television. ``The Federal Reserve is sending a pretty clear signal they need to support growth with further and more aggressive interest rate cuts.''

[marmar]

1. Is there anything about this country that ISN'T in decline right now?

:scared:

[PDJane]

2. Anger and outrage. eom.

[marmar]

4. C'est vrai....

n/t

[natrat]

3. they want a slave society and they are going to get it

[Librado]

5. Wow. I remember it being $1.33 a while ago

Time flies.

[Diclotican]

6. katty

katty

That scary, but good for europe, bad for US... Some say it is good for US, because then you can sell your good on the sheep compared to Europe or other places.. In the airline industry, the low dollar have given Boeing some pretty good orders, compared to the much more expensive Airbus...

In my own currency the US dollar have hit a low..N,KR 5.32 last time I was liking at it. And that is BAD... But good for me then;)

Diclotican

Sorry my bad English, not my native language

[katty]

7. yes, good for Euro and you--actually, we

see an increase of tourists from Europe here in Los Angeles-they appear to be enjoying the exchange rate-and why not?! :)

[Diclotican]

9. katty

katty

Yes, indeed many more have traveled from Europe to places in US, like Los angeles because of the exchange rate.. It is nice when former out of reach holidays are there:) And hopefully our visitors to US, are doing some good too..?

Diclotican

Sorry my bad English, not my native language

[katty]

14. well, they are certainly dining and shopping -

- and good beach weather as well, and we are very happy to have you visit us!

[bemildred]

8. Yep, the Looney is back over $1.02 too. nt

[comtec]

10. My ticker says $1.51 to 1.00€ currently :)

But that's rounding up the small numbers after 1.50 of course.
I admit to having mixed feelings. As a expat, who feels more like a European than American right now, I'm happy; However as an American, I'm scared shitless, and worried about my family!
on the one hand, yay things in dollars are much cheaper for me, the major downside, the money in my US bank accounts is nearly worthless now.

[Daveparts]

11. The Shell Game

The experts tell us this is good for exports, the farmer gets higher prices for commodities, but then is paid in dollars that have lost of 17% in value YTD
So if he sold his crop for 10% more did he really make a profit at all? His cost are rising, the price of fuel and fertilizer are doubling and he's got to buy more seed to start again, but who benefited?

[comtec]

12. No one who needs or deserves it (nt)

[katty]

13. yes!it's simple math