Sunday, July 27, 2008

Dollar Drubbing

The US Dollar is taking a bit of a beating tonight in active Asian trading. Here are the Euro, Yen and Australian Dollar (Aussie) in overnight trading, all rising steadily against the US Dollar. One certainly must wonder if the Dollar's dip is due to market reaction to the huge bail-out engineered over the weekend by the U.S. Congress. More crippling debt doesn't inspire much confidence in the greenback, or the capability of the U.S. economy to manage the debt burden that is growing exponentially. This should send a message to the Congress, but chances are, they won't listen.

Euro
Yen
Aussie