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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: TimF who wrote (363059)	12/16/2007 12:58:11 PM
From: tejek	Read Replies (1) \| Respond to of 1576824

Tim, just curious. Why do you think the fall of the dollar has been so extreme? With the dollar near its lowest rate against the pound in 26 years, and its lowest rate against the euro ever, many Europeans are looking at the United States the way some Americans have long viewed Latin America and the Caribbean and, once upon a time, Europe — a cheap place to flex their strong currency. The situation is more than a potential blow to Americans’ self-image, it could be a blow to the world economy as some central bankers worry about “currency tension,” and many countries move trillions of dollars out of their reserves and buy euros instead. The dollar’s fall has been so drastic, it has seeped into the popular consciousness. In his last video, rapper Jay-Z cruised the streets of New York flashing not a stack of Benjamins, but a fistful of euros. The dollar had been at relatively low levels against the pound and euro for most of this year, but in April it broke the $2 for £1 barrier and the exchange rate started to make headlines in Britain. Travel soared. Message 24138089