What is happening recently is proving all the dollar doomsayers right. Over the past few days dollar has slipped against major currencies at a pace that would push the greenback to oblivion in no time. The dollar fell to $1.97/pound against the pound; a level that’s 23% down compared to January 2006 levels and has never been seen in the past 14 years. Similarly, the dollar against the euro plunged to $1.33/euro, which was at a 20 month low.
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Source:- IIPM Editorial
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Friday, January 05, 2007
Contrary to what many believe, the dollar depreciation will hardly see the global imbalances get better
