With the current Economic storm far from over, the Dollar plunged to all new lows against a host of major currencies ranging from the Euro to the Yen. The Japanese central bank as well as the group of 7 decided not to intervene in the Dollar's woes for the moment.
Since the sentiment of the market is very much against the Dollar, the Japanese central bank well knows that intervening in the market now will be like throwing the money into a bottomless pit. So that is not going to happen for the moment. As for the following week, the Dollar may not see that many gains,as the economic trends indicate. What is more, the Dollar may even go Subterranean!
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Sunday, October 28, 2007
Dollar goes down!
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