Dollar flounders as euro slides

From AAP 26oct00

07:25 (AEDT) THE dollar has shed almost one US cent in offshore trading - coming perilously close to another all-time low as the euro continued to slide.

In London, the currency was pushed down to 51.66 US cents before recovering slightly to close at 51.88.

It stabilised in New York but remained under the 52 US cents mark in afternoon trading.

At 7am (AEDT) it was trading at $US0.5190/95, from 0.5269/74 at yesterday's local close.

The dollar's all-time low of 51.55 US cents was posted on October 19.

http://news.com.au/common/story_page/0,4057,1348869%255E1702,00.html

-- Martin Thompson (mthom1927@aol.com), October 25, 2000

Answers

Almost daily now I am continuing to read that the euro is still sliding.

I wonder how much longer this can go on before causing a world-wide currency crisis.

-- JackW (jpayne@webtv.com), October 26, 2000.

What the heck is an A$?

I know what you mean, but there ain't no such thing as an A$.

-- (.@...), October 26, 2000.

A$=Austrailian dollar. I've also noticed the extreme depression in the gold price. This is totally nuts. There is obviously a concerted effort to keep gold depressed and make the US$ the last resort. The strong dollar is not doing anyone any good in my opinion. The normal reaction to this currency crisis would be to buy gold but with the price actually going down, the Austrailians and the Europeans have no choice but the US$. What happens when the dollar collapses because of the debt explosion in this country?

-- poconojo (jberman478@aol.com), October 26, 2000.