Gość: Kapitalizm Kaput
IP: *.nsw.bigpond.net.au
09.12.03, 11:28
Co za nonsens! USgielda ==> UP a US$ ==> DOWN , czyli poglebiajacy sie DAWN
SYNDROME amerykanskiej ekonomii Bushu. Jak dlugo jeszcze? Do wyborow? A potem
co?
Dollar Hits New Record Low Vs Euro
Tuesday December 9, 4:24 am ET
By Christina Fincher
LONDON (Reuters) - The dollar hit a record low against the euro for an eighth
consecutive session on Tuesday as investors bet a U.S. central bank meeting
later in the day would do little to halt the greenback's slide.
With little expectation the Federal Reserve will raise rates from their
current level of one percent, markets were focused on whether the Fed would
drop a promise to keep rates low for "a considerable period."
Ultra-low U.S. interest rates have dented the appeal of dollar deposits,
encouraging capital to flow out of the United States precisely when the
country needs to attract growing sums of overseas capital to fund its
ballooning current account deficit.
"The U.S. current account deficit is a structural issue that is not going to
go away soon," said Trevor Dinmore, currency strategist at Deutsche Bank.
"Speculative positions look stretched but corporates still want to hedge
against dollar weakness, so there is scope for this move to go further." The
dollar extended losses beyond $1.2265 to the euro in the European session,
bringing it's fall to eight cents in the past month alone.
The U.S. currency also hit a new seven-year low against the Swiss franc and
its lowest against sterling since 1992, the aftermath of the "Black
Wednesday" debacle that marked the British currency's ejection from the
European Exchange Rate Mechanism.
HOW LOW CAN IT GO?
The greenback also fell below 107.15 yen, coming within a whisker of three-
year lows set on Monday.
The dollar's renewed decline raised questions as to how far the currency
could fall before policymakers started to flex their muscles.
In an interview with Reuters on Monday, U.S. Treasury Secretary John Snow
declined to speculate about possible intervention to support the greenback
and said faster growth was the key to helping the global economy.
He repeated his backing for a strong dollar, a mantra that has little impact
on markets these days.
News that 31 U.S. soldiers had been wounded in a car bomb blast in Iraq only
heightened concerns about Washington's handling of post-war Iraq, a factor
that has exacerbated the dollar's slide.
The blast came just a day after the Bank for International Settlements (News -
Websites) showed OPEC (News - Websites) countries
