Quote:
Originally Posted by polish_aristocrat
3 months are gone and BradM didn't bump this thread yet 
as you can see, the rate was 1.56 when the thread was started, and the Euro reached it's peak at $1.5940 on April 23th.
Right now, the rate is 1.53339 ( http://www.xe.com )
I hope Kard63 didn't exchange his $50k for Euros. |
Why do you think the Federal Reserve lowered the interest rate? By changing interest rates, the Fed tries to achieve maximum employment, stable prices and a good level growth. As interest rates drop, consumer spending increases, and this in turn stimulates economic growth. They try to fight the recession.
Economists at Merrill Lynch and Morgan Stanley say the U.S. is heading for its first-blown recession in 16 years, and a recent CNN poll found that 57 percent of the public believe the U.S. is in a recession already, with the economy topping the list of voter's worries.
In my opinion the dollar will get even weaker. Especially if McCain gets elected for president. With Obama there might be a short upswing but in the long run over the next 12 months it will go down.