9.09.2009

The Dollar Collapses

· Commodities, stocks and foreign currencies all rise as investors sell dollars.
http://www.forbes.com/2009/09/08/dollar-euro-imf-markets-currencies-united-nations.html
http://www.ibrp.org/files/images/2008-07-01-dollar.jpg
The U.S. dollar reached its lowest point against the euro this year due to a myriad of forces including rising global stocks and commodities prices, low interest rates, and investors diversifying out of Treasury debt and into other assets including U.S. stocks with the Dow Jones industrial average approaching 9500 in late afternoon trading.
[...]
By midday trading one euro traded for $1.45, meanwhile the Dollar Index, which tracks the greenback against a basket of currencies, fell to its lowest level since September of 2008.
"There are other factors
-outside of economic growth-
taking hold in the market."

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