U.S. dollar falling hard and fast (Here they go)

clem_c_rock

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Thu Feb-24-05 06:03 PM
Original message

U.S. dollar falling hard and fast (Here they go)

Edited on Thu Feb-24-05 06:16 PM by clem_c_rock

http://www.washtimes.com/upi-breaking/20050222-101328-6410r.htm

Well the balls rolling. Asian markets starting to drop our sh**.

Let's all start buying camping gear.

<snippit>
South Korea's decision to sell most of its U.S. government bonds triggered similar moves in East Asia and hammered the U.S. currency's value.

South Korea's action was mimicked by at least Taiwan, another economy that holds a huge amount of U.S. government debt, sending the dollar to new lows, CNN reported Tuesday.

</snippit>

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BrklynLiberal

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Thu Feb-24-05 06:07 PM
Response to Original message

1. Link not working....

:-( :-(

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reichstag911

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Thu Feb-24-05 06:10 PM
Response to Reply #1

3. Try...

http://www.washtimes.com/business/20050222-100932-4416r.htm

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clem_c_rock

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Thu Feb-24-05 06:16 PM
Response to Reply #3

4. Opps - try it now

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Career Prole

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Thu Feb-24-05 06:10 PM
Response to Original message

2. I need to find it from other than the Moonie Times.

I don't trust them.

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Career Prole

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Thu Feb-24-05 06:18 PM
Response to Original message

5. Found this in the NY Times and it's like a whole different world...

The dollar rallied modestly yesterday after several Asian central banks said that they were not selling dollars or intending to sell dollars to diversify their reserves into other currencies.

The dollar's small rebound came after it plunged 1.5 percent against the euro and 1.4 percent against the yen Tuesday, after reports, later denied, that the central bank of Korea was planning to diversify some of its reserve holdings out of dollars and into other currencies.

<snip>

Yesterday's rally was not enough to make up Tuesday's losses, although the central bank of Korea denied any plan to diversify its dollar holdings into other currencies.

In addition, the director of the foreign exchange markets division of Japan's ministry of finance said that Japan had no plans to shift its foreign currency reserves from dollars to other currencies, according to Bloomberg News. The central bank of Taiwan said in a statement that it was not selling dollars.

In its statement, the Bank of Korea said, "Recent reports by the foreign media that the B.O.K. is selling U.S. dollars are not true," according to Bloomberg News. The statement said that the bank, in a report for the National Assembly, was planning to "diversify investment targets."
http://www.nytimes.com/2005/02/24/business/24dollar.html

:shrug: Moonies...go figure.

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Massacure

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Thu Feb-24-05 06:19 PM
Response to Original message

6. How much did the dollar drop?

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thecrow

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Thu Feb-24-05 06:28 PM
Response to Original message

7. This story's two days old

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MGKrebs

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Thu Feb-24-05 06:29 PM
Response to Original message

8. Chart

Edited on Thu Feb-24-05 06:30 PM by MGKrebs

Euros to 1 USD.

Edited because that chart is copyrighted. Go look here;
http://www.x-rates.com/d/EUR/USD/graph120.html

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Thu May 02nd 2024, 03:03 AM
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