Dollar Loses 1 Peso in 2 Days
I haven’t seen anything to suggest to me what the cause of a one day decline of more than a P1. I checked the dollar against the British Pound and EU and it was down there too. It was up against the Yen. The US dollar seemed to be downward trend to the Yen in recent weeks.
- Close 12-08-08: 49.1???? (From memory)
- Close 12-09-08: 48.661800121048
- Close 12-10-08 P48.1928231588 per one American dollar.
I don’t know what caused this. I did read an article earlier this month warning that the dollar often falls in the month of December as investors sell off at the end of the year. Yesterday, news that an agreement on the GM bailout had been achieved. That bailout would have meant additional debt to the US Government which could influence the markets to value the dollar lower. If that is the cause, we may see that loss go right back up. The deal hit a road block in the Senate and it may be dead. I doubt that fifteen billion would have that big of an impact on the markets. When we are already talking about one trillion dollars and seven hundred billion what’s another fifteen billion? Doesn’t seem like enough to cause the kind of one day drop we’ve just seen. I will continue to keep my eyes open for what might have caused this steep one day decline of the dollar.
Filed under: Expat Finances
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