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Dollar Slumps Further Against Euro |
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Written by Users Idea
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Saturday, 24 October 2009 |
It seems that the US dollar has further slumped against major currencies in the world, particularly the Euro. According to the latest exchange rate, the Euro has climbed considerably when compared to the American dollar, whereby the New York trading has recorded a significant increase from $1.4975 to $1.5077.
Personally, I believe that although the US dollar has slumped against major currency, this somehow made American business more competitive as clearly, the cost for services and other manufactured goods are lower now. Still, economic powerhouse such as China might cry foul over the devaluation of the US currency, since China is one of the biggest buyers for US Treasury Bonds.
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