Deeper Analysis
Foreign Exchange Insights: Fed Comments On the Dollar
November 25, 2009
Federal Reserve officials are not responsible for exchange rate policy. That falls under the Treasury’s jurisdiction. Thus it was the Treasury that engineered the dollar devaluations of December 1971 and February 1973, which ended dollar-gold convertibility and the era of fixed dollar rates against other major currencies. Fed officials seldom comment on the dollar, but […] More
New Overnight Developments Abroad - Daily Update
New 2009 Highs For Euro and Swissy Against Dollar
November 25, 2009
The dollar lost 1.3% against the Canadian dollar, 1.1% against the Aussie dollar, kiwi and yen, 0.9% relative to sterling, 0.8% against the euro and 0.7% against the Swiss franc. In the process, the greenback plumbed new 2009 lows of 1.5087 per euro and Chf 1.0017, and it touched its weakest yen level (87.53) since […] More
