|
|
"A comprehensive, collaborative elections resource."
|
Dollar Plumbs New Lows Vs Euro
|
|---|
| Parent(s) |
Issue
|
| Contributor | Servo |
| Last Edited | Servo Jan 01, 2004 07:55pm |
| Logged |
0
|
| Category | News |
| Media | Website - Yahoo News |
| News Date | Thursday, January 1, 2004 06:00:00 AM UTC0:0 |
| Description | The dollar hit an all-time low against the euro on Wednesday, shrugging off U.S. economic data as concerns about possible attacks in the United States during New Year celebrations intensified selling pressure.
...
Currency traders are "routinely ignoring positive information, choosing instead to highlight negative information as an excuse to sell the dollar," said Michael Woolfolk, senior currency strategist with the Bank of New York. He noted that the greenback's downward momentum was accentuated by thin markets.
The dollar's performance in recent months has become effectively divorced from that of fairly robust U.S. economic reports because the widening U.S. current account deficit -- the broadest measure of the nation's global trade -- and low U.S. interest rates have punished the greenback.
...
The dollar fell to record lows around $1.2647 per euro , according to Reuters data, bringing its losses this year to more than 17 percent.
|
| Share |
|
|
2¢
|
|
| Article | Read Full Article |
|
| Date |
Category |
Headline |
Article |
Contributor |
|
|
