Yesterday’s stock rally pushed the dollar index down half a point, to 80 even. The Treasury’s announcement of the biggest budget deficit in the history of fiat money didn’t help the greenback, either. That puts the pound up a few cents from last week’s low, to $1.63. The Canadian dollar has gotten a nice bump too, from 86 cents Friday to just under 88 cents as we write. At 92, the yen is holding on to its newfound strength.
But in spite of the dollar’s marginal weakness, the euro is no better off. In fact, since peaking around $1.43 in early June, the multination currency has been slowly trending down. This morning, it’s at $1.39. (more)
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