The bottom line
The U.S. dollar fell below 100 Japanese yen for the first time since 1995, and dipped to a new record low against the euro, as fears about the U.S. economy heightened . . .
The U.S. dollar fell below 100 Japanese yen for the first time since 1995, and dipped to a new record low against the euro, as fears about the U.S. economy heightened. The collapse of Carlyle Capital and President Bush’s statement that the weakening greenback was not “good tidings” were cited as immediate causes. “Why put the money in the U.S. where stocks are sliding and the dollar is sliding?” said Scott Ainsbury at FX Concepts Inc. “It’s just a double whammy.” (Bloomberg)
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