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"The dollar, which has hovered within a few cents of its record low over recent weeks, has come under new pressure since the U.S. Labor Department issued unexpectedly poor August jobs data on Friday."
"It also fell against the Japanese currency, even as Prime Minister Shinzo Abe announced that he would resign, putting an end to his troubled year-old government. The dollar slid to 113.92 yen from 114.30 yen."
Originally posted by justyc
your title is a tad misleading.
Originally posted by sp00n1
If the Fed is forced to cut rates the dollar will plunge.
This is why there is such a rush to the war with iran.
Euro Near $1.40 Amid Concern About Growth Impact
The euro hit a second all-time record against the greenback in as many days on Thursday, buying $1.3920, before slipping slightly to trade at $1.3894 in the afternoon. After having reached $1.3908 late on Wednesday, it then closed that day in Europe at $1.3906.
But as the European Central Bank, unlike its British and U.S. counterparts, continues to focus on monetary tightening, the euro is expected to continue to gain strength.
"The strength of the euro against the dollar adds to the increased pressures facing euro zone growth currently stemming from the global credit crunch and financial market volatility, as well as elevated oil prices," said Archer. However, he added that of greater concern to the bank will be the impact of a slowdown of the global economy. "The euro would have to shoot up above $1.50 to have a marked effect on growth."
China may lead US economy to collapse dumping US dollar