Another Day, Same As It Ever Was - The Orange Mane

Bronco_Beerslug · 11-04-2004, 05:15 AM

Does anyone think things will change now on th economic front?

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Dollar Falls as Account Worries Return
By Justyna Pawlak

LONDON (Reuters) - The dollar hit 8-1/2 month lows versus the euro on Thursday as investors resumed selling the U.S. currency due to worries over the country's growing current account deficit, once the presidential election was over.

The re-election of George W. Bush to a second term in the White House did little to change investor sentiment toward the dollar, which has been under pressure for weeks and came within a cent of an all-time low against the euro on Thursday.

The dollar also hit a nine-year low against a basket of currencies on persistent concerns the U.S. economy might not be growing fast enough to attract enough foreign capital to fund the trade gap.

"It's back to the basics," said Trevor Dinmore, foreign exchange strategist at Deutsche Bank in London.

"The event risk has passed and people put on new short-dollar positions (sold dollars)." The euro rose to $1.2855 by 1051 GMT, having climbed from a Wednesday session low of $1.2655. It hit record highs of $1.2927 in February.
The greenback also fell to 1.1909 Swiss francs, matching a recent eight-year low. It also hit a 12-year low against the Canadian dollar.
http://story.news.yahoo.com/news?tmp...rkets_forex_dc

L.A. BRONCOS FAN · 11-04-2004, 05:34 AM

Same old war and recession/different Bush.

11-04-2004, 05:15 AM	#1
Bronco_Beerslug Angling in the Deep Join Date: Oct 2003 Location: Texas Riviera, Southern Mountains Posts: 24,281	Another Day, Same As It Ever Was Does anyone think things will change now on th economic front? ---------------------------------------------- Dollar Falls as Account Worries Return By Justyna Pawlak LONDON (Reuters) - The dollar hit 8-1/2 month lows versus the euro on Thursday as investors resumed selling the U.S. currency due to worries over the country's growing current account deficit, once the presidential election was over. The re-election of George W. Bush to a second term in the White House did little to change investor sentiment toward the dollar, which has been under pressure for weeks and came within a cent of an all-time low against the euro on Thursday. The dollar also hit a nine-year low against a basket of currencies on persistent concerns the U.S. economy might not be growing fast enough to attract enough foreign capital to fund the trade gap. "It's back to the basics," said Trevor Dinmore, foreign exchange strategist at Deutsche Bank in London. "The event risk has passed and people put on new short-dollar positions (sold dollars)." The euro rose to $1.2855 by 1051 GMT, having climbed from a Wednesday session low of $1.2655. It hit record highs of $1.2927 in February. The greenback also fell to 1.1909 Swiss francs, matching a recent eight-year low. It also hit a 12-year low against the Canadian dollar. http://story.news.yahoo.com/news?tmp...rkets_forex_dc

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11-04-2004, 05:34 AM	#2
L.A. BRONCOS FAN Mo' holla fo' yo' dolla! Join Date: Dec 2002 Location: In a bunker in an undisclosed location Posts: 52,694	Same old war and recession/different Bush.