Posted on 06/05/2010 9:28:38 AM PDT by blam
The Euro Is Crashing Below $1.20
Vincent Fernando, CFA
Jun. 5, 2010, 9:47 AM
The euro has now broken through $1.20, hitting a new long-term low as Eurozone financial concerns intensify. This is one of three signs that the euro bailout has already failed to bolster confidence. Charts below via Finviz:
A longer-term view:
[snip]
(Excerpt) Read more at businessinsider.com ...
Wow, it has sunk 20% in 6 months.
Sounds like it’s time to plan a European vacation!
I would not be surprised to see parity.
That should pretty much cool off the european tourist trade in New York, Disney World, etc. That is unless the strikes and riots spread from Greece to the rest of the eurozone.
| From the Department of Bwaa-Ha-Ha:
The September 12 edict was issued following a decision by the trustees of the country’s foreign reserves, Mehr News Agency reported. Earlier, the Islamic Republic of Iran had announced that the euro would replace the greenback in the country’s oil transactions. Iran has called on other OPEC members to ditch the sinking dollar in favor of the more credible euro. |
>>Sounds like it’s time to plan a European vacation!<<
I’m thinking along the same line. My girls perform Polish Folk Dance. They need velvet vests made in Poland. At the beginning of last dance season, they were 275.00 each. I had plans to modify them to fit another year. NOW I’m going to see how much they are. If they are down low enough, I might just buy new ones!!!!
>>That should pretty much cool off the european tourist trade in New York, Disney World, etc<<
Not Universal Studios in FL though. This month “The Wizarding World of Harry Potter” opens in Islands of Adventure. Tours of that have been booked for YEARS. At least according to the Harry Potter fans on their sites.
(we’re going in December)
It's only fitting that it goes softly into that good night...
The Krugerrand, now *there* was a currency.
Sorry to tell you but Poland dosn´t use the Euro.
The situation in Europe is taking a turn for the worse as the Prime Minister of Hungary says Hungarian economy is in a "very grave situation and talk of a default is not an exaggeration".
ping
1.1969 on the CNBC Currency page http://www.cnbc.com/id/15839178/site/14081545/
Don’t know if this is real time.
I suspect this will put a dent in the recent flood of european tourists visiting Disney World, New York, etc.
Maybe Obama and Holder can threaten to sue them, too.
Zeest kant be, monsouir blam!!
That was my first thought also, but why not support American tourism instead?
I propose Arizona tourism is where money should go.
No significant dealing in fx until tomorrow, 7pm GMT.
It started at 1.20 I believe at its first issuance. Then dropped to about .84 before making it slow rise to its peak which was at what, 1.60.
I agree completely however I have had a difficult time finding products to buy from AZ. With my travel schedule already full this summer I need to find other ways to support this brave state.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.
September 22, 2009 — Iran’s President Mahmoud Ahmadinejad has ordered the replacement of the US dollar by the euro in the country’s foreign exchange accounts.