$1.50 US for one Euro is almost here.
IMHO, soon there will be competitive devaluations and a trade war. Japan, Germany are mercantile states and they will find it difficult to impossible to fund their governments without large trade surpluses.
OMG, when I lived in Japan in 1960 the rate was #3000 yen per dollar.....My parents would give me a $.25 a week allowance and I could exchange it for yen, go off base and spend like a drunk sailor.
What happened in 2005 that made the dollar sink and how did it affect our economy? Did we go into a recession or was it a full blown depression? How many traders jumped out of tall buildings...
The Canadians have found ways to nearly peg their currency to ours (media shouting fears, scaring eastern investors away, getting the nod at the G20 meeting). I wonder if others will do the same. It would spell disaster for them within a year or so, as oil will keep going up. And things are very likely to get more interesting next summer.
Lowest level in just over TWO years!!!!! The SKY IS FALLING? This is a crash of historic proportions....if your sense of history extends almost 30 months ago...
It’s going fall even more when Fed lowers the rate again.
I think people are being somewhat alarmist about this. There is really no need to worry in the short term about this.