Tuesday, December 07, 2004
Scary stats for the buck here, especially against the euro and pound. When I lived in Dublin the dollar and the euro were equal. It wasn't that long ago that the pound was worth about $1.60 as opposed to the nearly $1.95 that we're seeing now. The really frightening thing is that the dollar probably won't continue to devalue at a gradual pace, but rather it could plummet dramatically if people begin to dump their dollar holdings and opt instead for the euro. From what I understand, the Asian markets alone can determine this.
Posted by Gabriel at 11:23 AM