De dag dat de dollar viel, #05: op naar de $ 1.40 per ¤

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Op dinsdag 18 september 2007 21:11 schreef Grumpey het volgende:
1.3974, en nu wil ik gewoon ineens 1.4150 zien ofzo

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Op dinsdag 18 september 2007 21:15 schreef ItaloDancer het volgende:

Goud naar boven de 725 dollar geknalt.

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Dollar Drops to Record Low Versus Euro as Fed Cuts Half Point

By Min Zeng

Sept. 18 (Bloomberg) -- The dollar fell to a record low against the euro after the Federal Reserve cut its benchmark interest rate by a half-percentage point to 4.75 percent, the first reduction since 2003.

The Dollar Index against six other major currencies sank to the lowest since September 1992 after the Fed cut its target rate for overnight loans between banks by the most since November 2002 amid concern that the worst housing slump in 16 years and increased borrowing costs for companies may threaten economic growth. Most analysts predicted only a quarter-point cut.

``Growth and interest-rate differentials are both turning against the dollar,'' said Samarjit Shankar, director of global strategy for the Global Markets group in Boston at Bank of New York Mellon. ``This confirms the dollar bears' view. We are easily running toward $1.4 now. Probably within a week.''

The dollar fell to $1.3962 per euro at 2:46 p.m. in New York, from $1.3867 yesterday and touched a record low of $1.3980. The dollar breached the previous record low of $1.3927 per euro set on Sept. 13. The yen fell 0.5 percent to 115.75 per dollar on speculation the rate cut will encourage investors to borrow in yen to finance risky bets known as carry trades.

The U.S. currency also fell to a 30-year low of 98.37 U.S. cents per Canadian dollar.

``Developments in financial markets since the Committee's last regular meeting have increased the uncertainty surrounding the economic outlook,'' the Federal Open Market Committee said in a statement after meeting today. The FOMC ``will act as needed to foster price stability and sustainable economic growth.''

Quarter-Point Anticipated

The median forecast in a Bloomberg News survey of 134 analysts was for a quarter-point cut. Only 23 economists forecast the Fed would lower the rate to 4.75 percent, while six expected no change.

The Fed's Board of Governors also lowered the rate on direct loans to banks by half a percentage point to 5.25 percent. The Fed had kept the benchmark overnight rate at 5.25 percent since June 2006.

``It's about the Fed's easing cycle,'' said Adam Boyton, a senior currency strategist in New York at Deutsche Bank AG, before the Fed decision. ``The Fed will cut the rate more than once, which paints a bearish picture for the dollar.''

Mortgage defaults by Americans with poor credit histories prompted the collapse of two hedge funds at Bear Stearns Cos. in June, triggering turmoil in the global debt markets and pushing up borrowing costs.

Fed Additions

The Fed added a total of $62 billion in temporary reserves through repurchase agreements, or repos, on Aug. 9 and 10, the most since September 2001, to ease a shortage of cash in money markets.

The central bank lowered its discount rate, or the cost of direct loans from the Fed, by 0.5 percentage point to 5.75 percent on Aug. 17, and cited the threat to economic growth. Just 10 days earlier, policy makers kept the target rate unchanged and maintained that inflation was the biggest danger to the economy.

The U.S. economy lost jobs for the first time in four years in August, fueling speculation the deepening housing recession and turmoil in credit markets are hurting the wider economy. Employers cut 4,000 workers last month, compared with a gain of 68,000 in July, the Labor Department said.

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Op dinsdag 18 september 2007 21:47 schreef simmu het volgende:

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kan je dat ietsje verhelderen? is dat ten opzichte van 1?

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Op dinsdag 18 september 2007 22:07 schreef Robbiej het volgende:
is dat goed of slecht als je wilt dat de dollar boven de 1.40 komt?