Euro weakest in 11 months!

S

Skinner

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Johannesburg - The rand weakened sharply in late trade on Wednesday as the dollar hit a fresh one-year high against the euro.

By 17:43 the rand was bid at R8.1191/$ from a previous close of R7.9500. It was bid at R11.4018/€ from a previous R11.2919 and at R14.2539/£ from R14.0579 before.

The euro was bid at US$1.4034 from US$1.4106 overnight, while gold was quoted at US$763.98 a troy ounce from US$776.17/oz overnight.

Dow Jones Newswires reports that the dollar clawed its way back up versus the euro Wednesday morning in volatile trading following the release of a worse-than-expected third quarter earnings report from troubled US bank Lehman Brothers.

The euro declined to a fresh 11-month low of $1.4037.

The dollar was helped by the recent release of the latest US Energy Department oil inventories, which basically met analyst expectations and left crude futures weaker. Without the support of higher oil prices, the euro doesn't have much going for it, say analysts.

Fears of recession and downgraded euro-zone growth forecasts are sending investors to the - relatively - safer arms of the dollar. This is part of a broader trend of market repositioning in expectation of a global slowdown that is keeping every recent euro rally in check.
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From: http://www.fin24.com/articles/default/display_article.aspx?ArticleId=1518-1791_2391375

*!*&*$*§*% !!!!
:( :mad:
 
Skinner, I know this is getting in your way of impressing the Jones', but don't worry yourself over things you can't control. Rather just tighten your belt or move back to Cape Town.
 
Yeah, you'll just have to tighten your belt buddy. And forget about impressing the Jones by buying that fancy house in CT, now where will you park that 90's Corolla?
 
Anyone has any educated guess where the Rand / Euro is headed towards Christmas?
 
I think Düsseldorf needs their own MyADSL forum. :rolleyes:
 
Easy solution.

Just stop using currency and move to a bartering system.

Yeah, I found that awesome tip on page 172 of Skinner's bestselling new self-help guide entitled "Absolutely useless advice guaranteed to annoy you".
 
Skinner said:
*!*&*$*§*% !!!!
:( :mad:
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So let me get this straight: When financial hardship strikes others then its good and you post loads of :):cool::):cool: but when it affects you then suddenly its :(:mad:.

Not to worry though....some dude posted loads of info about belt-tightening.

Anyway...good luck with the Euro. I wouldn't hold my breath though....imo both the euro and the dollar are going to tank further.
 
Skinner said:
From: http://www.fin24.com/articles/default/display_article.aspx?ArticleId=1518-1791_2391375

*!*&*$*§*% !!!!
:( :mad:
Click to expand...

The Dollar has been doing well against the Pound, Canadian Dollar,
Australian dollar and the Yen too. This is what I've been saying earlier, as the US consumer tightens down and imports less, then countries which depend on the US for their exports (Europe incl UK)
will suffer - even more from the economic crisis than America itself.
FOr some reason people have been predicting doom and gloom for
the US and its economy.
 
HavocXphere said:
So let me get this straight: When financial hardship strikes others then its good and you post loads of :):cool::):cool: but when it affects you then suddenly its :(:mad:.

Not to worry though....some dude posted loads of info about belt-tightening.

Anyway...good luck with the Euro. I wouldn't hold my breath though....imo both the euro and the dollar are going to tank further.
Click to expand...

The Dollar is improving. It's all other currencies which are tanking
as the slow down in the US catches up to all those economies
so dependent on the US market.
 
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