US Dollar Falls on Jobless Claims, Euro Surges
It looks like the news of a surprise jump in the US weekly jobless claims have impacted the dollar as it fell on Thursday. The economic growth forecast in the second quarter that went below what was expected also reduced prospects of a Federal Reserve interest hike for this year. The dollar recouped a bulk of its losses, however, when a report showed a rise in the manufacturing activity in the Midwest region in July. This is helped by the decline in US crude oil prices (For more information on crude oil prices, read The guide to crude oil prices).
On the Europe front, the euro came strong with a session high of US$1.5700. However, the drop of more than US$2 a barrel in the US crude oil halted the currency's advance.
on 2008-10-14 at 00:46:58
Can I blame the war for this? I don't know much about economics, but I am sure that overpriced war in Iraq and Afghanistan is one of the biggest reasons the dollar is becoming worthless today. Government, do something!on 2008-09-22 at 22:05:25
man the economy sure did take a beating mid-year this year. it looks like everything's going up and the dollar's struggling to stay steady. the rising oil prices didn't help either. ugh.