Dollar Index

[voytechs]

Remember this is all low volume trading. Everyone is still on vacation. Things will really start showing the direction all of this is going next week. There are many factors playing here. Central banks buying dollars, but also their own currencies falling as European economies are slowing now faster than here in the us.

All I can say is that long term the dollar is going way down, just like all other currencies.

[Dr.3D]

So how high you all think its gong before we see it go off the cliff, 80? 85?

Sure looks like it is going to hit 80.

[Lafayette]

78.934, yep sure looks like.

ECB and Bank of England kept thier rates unchanged , im sure thats gona help put it up there.


I wonder when these other central banks are going to draw the line and stop screwing their own curriences.
We know come 09 the major asian and mideast banks will start taking the euro as payment instead of just the dollar. Which should have a huge impact imo.

Its the Euro banks right now that are the problem

[HOLLYWOOD]

Looks like a concerted effort of many central banks today.

The ECB and Bank of Tyranny (ENGLAND) are propping the greenback on the inflation fears across EUROPE.

This has been going on now, for a couple of weeks

[JRuc33]

You guys are idiots. The dollar goes up and down in cycles. Look at historical charts. Current account really means nothing. Australia has been running a current account deficit for 35+ years, and its currency is holding up just fine. The dollar will remain the world reserve currency for now because its in everyone's best interests to keep it that way.

The ECB and Bank of England are going to lower rates. That's why its up today. Its not some conspiracy or concentrated effort, central bankers are starting to realize that inflationary pressures are easing and that they should lower interest rates to stimulate the economy.

[voytechs]

You guys are idiots.

I'd be careful calling people idiots.

U.S., Europe, Japan Devised Plan to Prop Up Dollar, Nikkei Says
By Timothy R. Homan

Aug. 27 (Bloomberg) -- Finance officials from the U.S., Japan and Europe in mid-March drew up plans to strengthen the U.S. dollar following troubles at Bear Stearns Cos., Nikkei English News reported, citing unnamed sources.
The intervention designed by the U.S. Treasury Department, Japan's Finance Ministry and the European Central Bank called for the central banks to purchase dollars and sell euros and yen, with Japan providing the yen needed for the currency swap if the greenback's value dropped significantly, the news service said.

The three groups, which considered making an emergency statement through the Group of Seven industrial nations, did not stipulate a specific exchange rate for the potential intervention, nor did they detail the amount of money to be used, Nikkei said.

ECB spokeswoman Eszter Miltenyi and Treasury spokeswoman Brookly McLaughlin declined to comment on the report.

Source: Bloomberg

[Dr.3D]

I'd be careful calling people idiots.

Yeah, really!
Please get your information straight before you make such a statement.

[JRuc33]

Ask yourself this? Is the prop up temporary for world financial stability or permanent. It is obviously temporary. In fact, the Japanese have a vested interest in a strong dollar, because they need their currency to be weak for exports.

[Lafayette]

Ask yourself this? Is the prop up temporary for world financial stability or permanent. It is obviously temporary. In fact, the Japanese have a vested interest in a strong dollar, because they need their currency to be weak for exports.

Ofcourse its temporary, i mean almost 12 months of decline made up in less than 5 weeks? They cannot prop it up for very long, no matter how much they want to.

The dollar is dead, it was going off the cliff back in in late july until they pulled this shit. All the manitpulation and shenanigans in the world won't save them in the end.

IMO, this is a last dich effort to get them thru the elections, and come 2009 the flood gates will open.

[JRuc33]

The dollar is dead, it was going off the cliff back in in late july until they pulled this shit. All the manitpulation and shenanigans in the world won't save them in the end.

No, the fact is many people are pricing in rate cuts for the Euro, Aussie Dollar, Pound, etc... because of the recent decrease in commodity prices and inflationary pressures. Therefore, it is natural that these currencies should fall and the dollar should gain. Most people don't believe the fed will lower the rate again.