So, it seems that some think that the US economy is stronger than many believe, but there are plenty in the financial world who see big warning signs on the horizon. Thoughts, anyone?
Dollar Hits All-Time Low Against Euro By MATT SURMAN, Associated Press Writer
BERLIN - The U.S. dollar hit an all-time low against the euro Friday, shrugging off positive U.S. employment data and falling on worries about oil prices and concern over the U.S. budget deficit.
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Oil prices, which remain relatively high despite a more than 10 percent pullback in recent days, have raised doubts about the strength of the U.S. economy, adding new concerns on top of high U.S. trade and budget deficits, factors that have weighed on the dollar for months.
Economists say sentiment has turned so strongly against the dollar that positive news about the U.S. economy has little impact on its slide. SNIP...
Commerzbank analyst Christoph Balz said he expected to see the euro rise as high as $1.31 but to settle lower in the long term.
"The U.S. economy is stronger than people think, which will lead to higher interest rates and make the dollar more attractive," he said.
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