Dollar Declines to Six-Week Low Against Euro as Global Stock Markets Rally
By - Jul 6, 2010
The dollar fell to a six-week low against the euro and declined versus all of its other major counterparts as a rally in global stocks boosted demand to hold currencies offering higher yields...."
Comment: Most will remember, when the euro was below 1.20 and the forecasts said "parity" is just a few days away, well these were the more sober analysts, while some of the clattering academic crowd with Krugman and more recently Roubini as their cheerleaders wouldn't do it anywhere far from a collapse, sometimes "total". At this blog you were told a different story. At this blog you were told the truth. At the moment, the exchange rate of the euro to the dollar is 1.2638
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