Dollar hits five-month low


	Dollar hits five-month low

JICWyllie

5-24-2009 6:58 AM

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tags:

1-exchange rate, 2-decrease, 2-record, 3-reported, 4-us

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5-24-2009 11:20 AM

clip-on-tie

Endless Obama deficits threaten the dollar.

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<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/b4109fde-6ff9-4e9d-9bb4-92d6bac76c29/D9E2209F-36C0-4346-AA80-0B367B77C25C/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://www.ft.com/cms/s/0/cdecffaa-46b0-11de-923e-00144feabdc0.html" href="http://www.ft.com/cms/s/0/cdecffaa-46b0-11de-923e-00144feabdc0.html" style="font-size: 11px;">www.ft.com</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.ft.com/cms/s/0/cdecffaa-46b0-11de-923e-00144feabdc0.html"><P>The dollar dropped to its lowest level so far this year as optimism that the worst of the financial crisis may be over <A href="http://www.ft.com/cms/s/0/77411a42-4624-11de-803f-00144feabdc0.html" title="Dollar wrong side of economic revival - FT.com" target="_blank" class="bodystrong">stemmed haven demand</A> for the currency.</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.ft.com/cms/s/0/cdecffaa-46b0-11de-923e-00144feabdc0.html"><P>Analysts said the dollar faced a near-perfect storm as improving risk conditions sparked higher oil prices and a strong rally in <A href="http://www.ft.com/markets/emerging" title="Emerging markets news and data - FT.com" target="_blank" class="bodystrong">emerging markets</A>.</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.ft.com/cms/s/0/cdecffaa-46b0-11de-923e-00144feabdc0.html"><P>But David Woo, analyst at Barclays Capital, said the most significant issue weighing on the dollar was increased concern about the magnitude of US debt issuance, which led US stocks, bonds and the currency all to fall simultaneously.</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.ft.com/cms/s/0/cdecffaa-46b0-11de-923e-00144feabdc0.html"><P>“The new reality that policymakers in Washington are facing is that with declining risk aversion, investors are now demanding higher premium for holding the dollar and US assets, especially US government bonds.”</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.ft.com/cms/s/0/cdecffaa-46b0-11de-923e-00144feabdc0.html"><P>Over the week, the dollar dropped 3.8 per cent to a four-month low of $1.4010 against the euro, fell 0.8 per cent to Y94.25 against the yen and lost 3.2 per cent to SFr1.0863 against the Swiss franc.</P></blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;">&nbsp;</td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/D9E2209F-36C0-4346-AA80-0B367B77C25C/blog/" title="blog or email this clip"><img src="http://content6.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>

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