WTF is going on with the value of the dollar? In July I was paying 1.60 for a Euro, and today it is at 1.37. Is the dollar getting stronger, or is the Euro tanking?
The European Central Bank has aggressively lent money to banks as the crisis has grown. It had resisted lowering interest rates, but signaled on Thursday that it might cut rates soon. The extra money, aimed at ensuring that banks would have adequate access to cash, has not reassured savers or investors, and European stock markets have performed even worse than the American markets. Euro interest rates to come down making dollar stronger.
This economic problem is worldwide, affecting markets and monetary values everywhere: http://ap.google.com/article/ALeqM5gHs5OM3gFG_DytQQZFbWfgPT08MAD93L2MIO0
