Currency Update

The dollar has continued on its downward spiral, as the ongoing credit crisis, the collapse of Bear Stearns and the continued injecting of liquidity by the Federal Reserve has left all asset classes in turmoil, with commodities soaring to all-time highs and equity markets seeing daily price swings in excess of 3%. This crisis remains unique as the rest of the world is feeling the effect of the weak dollar, seeing their own domestic currencies reaching all-time highs. The euro now trades at $1.58, and despite the fact that European exporters are looking on with heightened nervousness as ...