FOREX-US dollar tumbles vs euro, yen as Fed cuts rates

reuters ^ | Vivianne Rodrigues

[buzzer]

NEW YORK, Dec 16 (Reuters) - The U.S. dollar tumbled versus the euro and the yen on Tuesday after the Federal Reserve cut interest rates more than expected to a record low, further diminishing the appeal of the greenback.

[buzzer]

Wanna see how low the buck can go ...

[Dallas59]

$1 is worth...
USD to JPY 89.43 ¥
USD to EUR 0.7150 €

[rabscuttle385]

*Ping!*

[rabscuttle385]

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[SFR]

Can’t wait for them to pay me to borrow money.

[buzzer]

Well, that’s the current exchange rate. Wait untill the rate cuts take effect on the real economy and the tumble turns into a freefall.

[UCFRoadWarrior]

Thank your local Liberal Free Trade Globalist for this recent news! That Free Trade stuff is realllly working

[ScreamingFist]

Gold at $860......

[Jack Black]

The begining of the end?

Gold hit $840 today. (It was in the mid $700 range a week ago).

VS.

[Obadiah]

[Jack Black]

Gold hit $840$860 today.

[DuncanWaring]

Does this mean the dollar-denominated price of oil can be expected to start heading back up?

[Jack Black]

[Jack Black]

Does this mean the dollar-denominated price of oil can be expected to start heading back up?They appear to have decoupled. OPEC is sick. They maintained a 9.5bbl/oz ratio for quite a while. The current ratio is more like 20bbl/oz. Gold hasn't moved down near as much as oil. Gold lost 30% below it's high. Oil lost almost 80%.

[buzzer]

“Does this mean the dollar-denominated price of oil can be expected to start heading back up?”

You simply have to sum up the facts:
- dollar tubles
- US demand for oil might slow during recession, but not the global demand ( Thanks China and India )
- OPEC is going to reduce Production

So i guess, yes it will raise (at least when payed for in US$)

[Centurion2000]

You need to also take this one into account ....

- US demand for oil might slow during recession, but not the global demand ( Thanks China and India )

When the US gets an the economic flu, the rest of the world gets ebola.

[henkster]

I figured oil had reached bottom earlier this month. It’s going to start rebounding, and worthless currency will aid the rebound. It will not skyrocket. I’m going to guess $60/barrel in 30-45 days, and hover there until May, when it will go back to $100. However, add a 20-25% “surcharge” to those figures should 0bama’s regime reinstate the ban on American energy production.

[arrogantsob]

Ug Og upset. Remember good days when the Saber Tooth pelt really worth something. Knew trade outside of tribe make Gods mad. Must sacrifice something. Me know; sacrifice thinking; it no good and led to EVil.

[oblomov]

I prefer to think of it as:

The dollar hit 1/860 oz. Au today.

[buzzer]

“When the US gets an the economic flu, the rest of the world gets ebola.”

Maybe or maybe not. This time the US economy has ebola. I’m curious what might happen to the world economy.