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US Dollar Plummets and Euro Sets Record Highs, No End in Sight?
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The US dollar hit multi-decade lows on a trade-weighted basis, with the Euro at all-time highs and the Canadian dollar strongly past parity against its US namesake. Traders asked themselves whether we will see an end to protracted greenback weakness, but early signs suggest that the dollar may fall further before setting any meaningful lows. Continued disappointments in economic data and overwhelming dollar-bearishness have thus far prevented a worthwhile rebound.
Continued calls for a top on the Euro have fallen on deaf ears, with the single currency setting fresh record-highs of $1.4247 through the New York afternoon session. Persistent dollar selling pushed the trade-weighted Dollar... Full Story |
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Submitted Sep 28, 2007 3:10pm
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