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)
FOLLOW THE WEEK ON FACEBOOK
The bottom line
March 13, 2008
Try 4 Risk-Free Issues of The Week magazine.
of The Week magazine.