Dollar Plunges to Record Low Against Euro

Yahoo! News - Dollar Plunges to Record Low Against Euro: "Dollar Plunges to Record Low Against Euro

20 minutes ago Business - Reuters

by John Pary

NEW YORK (Reuters) - The dollar dropped to record lows against the euro on Friday, succumbing to negative sentiment and erasing all of the U.S. currency's earlier gains following a robust U.S. October employment report. "

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Wow and OUCH!!!!

It seems the dollar needs a miracle! Hopefully a cheap dollar would equalize the import/export imbalance by making imports more expensive due to reduced buying power and making our exports cheaper to the world (particularly Europe). Unfortunately, this could also translate into higher prices in stores and at the pump, given the high volume of imports flowing into this country!

What does a weak dollar mean for us personally? It definitely means less money in our pocket at the exchange office. Roughly $300 out of every thousand is lost, so our money will have to stretch even more. I guess it really is sort of like what the Canadians have had to put up with for so long.

Ceao for now!