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GOING GOING GOING; THE US DOLLAR

Author:
Paga
Date:
2007-11-10 14:45:57


Yesterday a friedn of mine going on a avsit to Amercia awas givne 2.10 US$ for a pound. I think the Aemricasns coming to the UK will not feel done by.

Should you not be hoarding some dollars?

PAGA

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Dollar Slumps to Record on China's Plans to Diversify Reserves

By Agnes Lovasz and Stanley White

Nov. 7 (Bloomberg) -- The dollar fell the most since September against the currencies of its six biggest trading partners after Chinese officials signaled plans to diversify the nation's $1.43 trillion of foreign exchange reserves.

The dollar fell against all 16 of the most-active currencies, declining to the weakest versus the Canadian dollar since the end of a fixed exchange rate in 1950, a 26-year low against the pound and a 23-year low versus the Australian dollar. The New York Board of Trade's dollar index dropped to 75.21 today, the lowest since the gauge started in March 1973.

``Further weakening of the dollar is very likely,'' said Teis Knuthsen, the Copenhagen-based head of foreign-exchan
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