Tuesday, July 15, 2008
I saw this linked in another blog's comments and decided to post it here. It is not a big article and does not draw any conclusions, it allows us to think about the facts and decide for our selves. That is certainly different from most papers who want to tell us what to think about something.
FT Alphaville » Blog Archive » The dollar’s slide: 1/3 down and falling faster: "We’ve posted this before - but as the ailing US currency drops through $1.47 against the euro and $2.10 against sterling, it merits a second (and updated) airing.
The chart comes from Sempra Metals, who make a couple of additional points:
* The US dollar has now lost more than a third of its value (-35%) against a basket of major currencies since Feb 2002.
* The decline is accelerating. The USD has shed -12.5% of its value in the last year, -3.5% in the last month, and -1.5% in the last week alone."