U.S. Dollar: Cliff Diving Again

| 17 December 2008 20:57

Is this an unorderly decline for the dollar?

These last two days have been bad for the dollar. We are seeing heavy losses against the Swiss Franc, the Euro, the Australian Dollar, and The Japanese Yen. (The Pound is going down even more).

After Bernanke lowered rates to effectively zero and said he was starting up the helicopters, currency traders decided the U.S. Dollar is a weak currency.

Take a look at these two charts. The Top one is from today and the bottom one is the one I posted yesterday. Not good.

currencies-2008-12-17

currencies-2008-12-161

avatar About Edward Harrison

Edward Harrison is the founder of Credit Writedowns and a former career diplomat, investment banker and technology executive with over twenty years of business experience. He is also a regular economic and financial commentator on BBC World News, CNBC Television, Business News Network, CBC, Fox Television and RT Television. He speaks six languages, a skill he uses to provide a more global perspective. Edward holds an MBA in Finance from Columbia University and a BA in Economics from Dartmouth College.

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