Free Republic
Browse · Search
News/Activism
Topics · Post Article

To: SAJ

From what I could see the USD has been losing value on a fairly steady basis against the Euro for years. It would take a truly catastrophic attack to have a real impact on the dollar's value relative to other currencies. Too many commodities are ONLY traded in USD, it would take something major to change that.


82 posted on 07/16/2005 9:13:29 PM PDT by wagglebee ("We are ready for the greatest achievements in the history of freedom." -- President Bush, 1/20/05)
[ Post Reply | Private Reply | To 79 | View Replies ]


To: wagglebee
Sorry, that's not so (well, one could take a 30-year time frame, in which case it might be so, but that's rather too long a view for practical trading, wouldn't you agree?)

Euro opened for trading on the 1st business day of 1999, and settled @ 117.xx (I can look it up if you insist). From then until 26 October 2000, it declined to 82.xx. From then until 30 December 2004, it moved upward vs. USD in zigs and zags, topping out at 136.59 on that date (basis March futures; spot was a bit higher).

Tonight, Sep futures are 120.76, although I hear that spot is drifting lower, presumably on declining fears that the USD cap inflow (to be announced Monday am, US time) will reach the mkt-expected levels...who the devil knows about that, eh? (g!)).

So, net-net, from Jan 1999 onward, there's been less than a 3% change in EUR/USD.

For real-time spot quotes, I can strongly recommend to you Jay Meisner's site, Global-View. Requires a free registration, but the forex forum and the real-time ticker are worth diamonds to a serious swing trader. www.global-view.com ... and follow the prompts to register and login. Click on FX+ticker to access the forum commentary AND have the ticker on-screen. N.B. the ticker on Saturdays is worthless; interbank resumes again on Sunday afternoon, US time.

87 posted on 07/16/2005 9:30:18 PM PDT by SAJ
[ Post Reply | Private Reply | To 82 | View Replies ]

Free Republic
Browse · Search
News/Activism
Topics · Post Article


FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson