Euro Breaks Through $1.51

WSJ ^ | 11/25/09

[TigerLikesRooster]

Euro Breaks Through $1.51

NEW YORK—The euro surged above $1.51 on Wednesday, shattering a long-standing trading range as the onslaught on the dollar intensified.

The common currency advanced nearly two cents on the day, a significant single-session gain for a major currency. The euro left New York trading close to a fresh 15-month peak at $1.5144, a sign that the dollar may face further pressure Thursday in Asian and European trading. U.S. markets will be closed for Thanksgiving Day.

Thin trading ahead of the Thanksgiving holiday likely exacerbated the dollar's losses. The euro tripped key technical resistance levels above $1.51 and then sailed quickly

[TigerLikesRooster]

Ping!

[allmost]

Gold bugs take heed. The world will not allow the peg to the dollar to destroy itself.

[AceMineral]

A surge and an onslaught.

[Cicero]

Yes. Serious breakdown in the dollar today. The chart suggests that it has broken down below the recent lows and is heading lower.

http://stockcharts.com/h-sc/ui?s=$USD&p=D&yr=0&mn=4&dy=0&id=p24903662436

[Zuben Elgenubi]

Geithner takes the fall for the dollar within the week. That’ll get the Admin through the Christmas Season. January is going to be tough on olde Zero. Unemployment up, dollar down big time and the Christmas bills being delivered.

[TigerLikesRooster]

I am sure Fed and Treasury are busy now. They figure dollar would rebound in near future(maybe next year when anther crisis break out and money from weaker economy will run to U.S.) However if dollar plunge too low now, that may not be possible. Dollar would be irreversibly damaged. They will try to punt this thing down the road again. I think they will manage to do so.

They are stuck between Dollar collapse and Dow collapse. Their maneuvering gets harder and harder. Eventually running out of options.

[OrioleFan]

Hope and Change called up his buddies across the pond and asked them to round to 1 decimal point. Said he learned his lesson about putting out accurate numbers for jobs saved and created.

[Tempest]

I will be trading in my dollars for pesos in order to protect value.

Thanks Obama

[expatpat]

This will prolong the slow-down in Europe, which relies heavily on exports.

[expatpat]

OTOH, the collapse in Dubai will make ‘em run to the USD again, for safety.

[TigerLikesRooster]

They may have not choice but to get by with domestic demand inside Europe.

[Diana in Wisconsin]

“Geithner takes the fall for the dollar within the week. That’ll get the Admin through the Christmas Season. January is going to be tough on old Zero. Unemployment up, dollar down big time and the Christmas bills being delivered.”

Tee-Hee! There IS a Santa Claus, Virginia! And he’s bringing me more than I’ve ever DREAMED of! :)

[blam]

Dollar Falls To 14-Year Low VS Yen, Touching 86.51

"Analysts said some investors were selling the dollar to buy gold, which surged to another record Thursday."

[TigerLikesRooster]

some investors

including big players such as institutions, hedge funds etc

[dennisw]

The dollar is funding its own demise via making possible a zero interest rate USD carry trade which has hedgies, GS, other speculators selling USD and buying au, oil and commodities

Blame whoever is in charge of US financial policy for the near zero interest policies that make this go on. That would be Geithner, Bernanke and that moron Obama who has never run as much as a lemonade stand.

His main priority is collaborating w Michelle in bringing in (mostly black) entertainers into the White House. Like Jennifer Hudson to croon at the state dinner for Indian prime minister. They served the poor guy curry, something he eats at home eight days a week.
Yes the 0-bots are smarter better than anyone else

[dennisw]

Russia and Iran would be retarded not to be shorting USD

[Rummenigge]

did asian currencies fall against the € ?

[Rummenigge]

for safety ? A daring thought.

[TigerLikesRooster]

Yen up, and Yuan down, I think.