Dollar to rises the fastest in 40 years

[56ktarget]

Thanks Obama. Damn marxist debasing our currency.

America's greenback is enjoying its fastest rise in 40 years, according to Citibank(C). Over the past eight months, the U.S. dollar has strengthened dramatically against all the world's other major currencies.




Don't expect that to change any time soon. Since the start of 2015 alone, it's gone up in value about 14%, according to Bank of America(BAC) Merrill Lynch.
Why the jump? The dollar's rise is a direct result of America's strong economy while other parts of the world struggle. Europe is enacting a new stimulus program to revive its economy, and Japan is also in stimulus mode.
Travelers are familiar with exchange rates and how they can impact the cost of goods. But the strong dollar's impact goes well beyond travel. It effects everything from gas prices at the pump to the profits of America's big businesses that sell things overseas.
Many corporations such as Coke (KO) and Boeing (BA) warned that the strengthening dollar is harming their bottom lines, especially in Europe.
Related: The strong dollar punishes these companies
The euro's big slide: One euro is now worth $1.05 -- its lowest level since 2003. This exchange rate was unthinkable only a few years ago when one euro was worth $1.37 and some predicted the euro could even replace the dollar as the global currency of choice.
But you might want to wait a little longer to book that European vacation: the euro could be below$1 sometime in the next year, according to a Goldman Sachs (GS) report. They forecast one euro going as low as 80 cents by the end of 2017.
Related: One U.S. dollar could soon equal one euro
The dollar's fast paced rise has convinced many that the rally won't end anytime soon.
"Speed does matter," says Steven Englander, managing director of fixed income strategy at Citi. "What's going to stop the dollar from continuing to make these gains?"

http://money.cnn.com/2015/03/16/inve...rise-40-years/

[oyarde]

Thanks Obama. Damn marxist debasing our currency.


http://money.cnn.com/2015/03/16/inve...rise-40-years/

I say , go ahead and load up on those paper dollars, get some 1 800 flowers (FLWS) and some of that other valuable stuff off the NASDAQ .

[NorthCarolinaLiberty]

The dollar is exchanging about 44 Philippines pesos right now and has been holding fairly steady from my exchange experience around the past year. Maybe it was 42 then, if that. I still don't see a great 8 month rise, at least with this specific currency.

The peso was 56-57 per dollar a little over ten years ago, so not sure I would be so giddy with it being 44 right now. Real estate and other items have really gone up in that country. Have not checked the overall inflation rate lately, but a piece of chicken that was 50 cents not too long ago was $1.50 or more last year. Maybe that was some anomaly for that product. Not sure.

Correct me if I'm wrong, but a rising economy is going to experience some of this shakiness. Especially this kind of country. Philippines surpassed India a few years ago as a leading outsourcer for call centers. Other changes, too. Countries like Philippines, Vietnam, India, Korea, etc. have risen over the past multiple decades. Not sure if I'd put too much into a tiny 8 month blip.

[DamianTV]

Dollar rises? Its a downhill race, and the Euro is tanking due to Greece. Make no mistake the purchasing power of both currencies is dropping. Slowly, but always dropping. Its like proclaiming everyone should jump on your boat because it is sinking less slowly than the other boat next to it that is also sinking.

[qh4dotcom]

I cannot understand why the dollar is rising versus precious metals.

[acptulsa]

Thanks Obama. Damn marxist debasing our currency.

Rising as compared to...?

People may be better able to afford Chinese stereos and Mexican tequila--maybe--but still can't afford a pound of hamburger. How do you people manage to set out to 'redistribute wealth' and always wind up 'redistributing it' from the poor to the rich? No one can get raises fast enough to keep their wages up with the decline of the dollar's value--whether it's declining faster than other currencies or not.

The middle class is evaporating and shrinking and it's liberals holding the hair dryer. How do you people sleep at night?

[pcosmar]

I cannot understand why the dollar is rising versus precious metals.

Manipulation?

[DamianTV]

Rising as compared to...?

People may be better able to afford Chinese stereos and Mexican tequila--maybe--but still can't afford a pound of hamburger. How do you people manage to set out to 'redistribute wealth' and always wind up 'redistributing it' from the poor to the rich? No one can get raises fast enough to keep their wages up with the decline of the dollar's value--whether it's declining faster than other currencies or not.

The middle class is evaporating and shrinking and it's liberals holding the hair dryer. How do you people sleep at night?

Silly mundane! That is what SOMA (Ambien) is for!

[CaptUSA]

Dollar to rises the fastest in 40 years

English to sinks the lowest ever.

[JK/SEA]

i bid 56 quatloos for the untrainable combatant with the target on his back......

[muh_roads]

Thanks Obama. Damn marxist debasing our currency.


http://money.cnn.com/2015/03/16/inve...rise-40-years/

The only way that could be true for main street is if the national debt somehow reversed and they were destroying the money supply. Anything else is just manipulation.

56ktarget, you should go read zerohedge more often. You are living in a fantasy world and supporting the USD supports US sponsored terrorism. Obama is just as guilty as Bush with all of the crap these administrations are pulling. You can fill your car at the pump for cheaper at the hands of more Saudi's getting beheaded.

As everyone else in here said, it's a race to the bottom. The quality of our goods and services will not change. The crony corporatists will be the ones who get the good fortune of pocketing any wealth gain due to recent events.

56ktarget, comrade sheep. You are a pawn in the game of fractional reserve banking. Your sheep farmer, Obama, thanks you for your naive and ignorant service.

[Madison320]

I cannot understand why the dollar is rising versus precious metals.

Things don't always move in a straight line. But don't worry, reality will win in the end.

[Zippyjuan]

The only way that could be true for main street is if the national debt somehow reversed and they were destroying the money supply. Anything else is just manipulation.

56ktarget, you should go read zerohedge more often. You are living in a fantasy world and supporting the USD supports US sponsored terrorism. Obama is just as guilty as Bush with all of the crap these administrations are pulling. You can fill your car at the pump for cheaper at the hands of more Saudi's getting beheaded.

As everyone else in here said, it's a race to the bottom. The quality of our goods and services will not change. The crony corporatists will be the ones who get the good fortune of pocketing any wealth gain due to recent events.

56ktarget, comrade sheep. You are a pawn in the game of fractional reserve banking. Your sheep farmer, Obama, thanks you for your naive and ignorant service.

At Zerohedge it is impossible for there to be any good economic news. It must all be bad news. Everything must lead to a crash. The End of the World is Nigh! They are also a fantasy world.

As for oil, we produce about 60% of our own oil these days and Saudi Arabia accounts for 11% of our imports http://www.manhattan-institute.org/e...yths/myth1.htm or about 4.4% of all the oil we actually use. (Canada- our #1 foreign source- provides 18% of our imports).

By contrast, imports from the Persian Gulf accounted for just 10.5 percent of U.S. petroleum consumption

The recent falling price of oil is not due to any actions by Saudi Arabia but due to global increases in production- led by US fracking. Saudi Arabia did not fight the price changes by cutting back their production. Instead, they have maintained their output.