|US Dollar Value Keeps Dropping|
|by Tom McGregor||Mon, Jan 13, 2014, 08:03 PM|
Despite President Barack Obama's claims that the US economy is rebounding, the global value of the U.S. dollar continues to sink.
Channel NewsAsia reports that, "The dollar slipped slightly against the euro Monday as traders continued to digest an unexpectedly weak US jobs report that raised speculation the Federal Reserve will slow stimulus cuts."
Zachary Griffiths, economic analyst at Wells Fargo economic, is quoted as saying that the"Effects of the much weaker-than-expected jobs report from Friday seem to be lingering."
According to Channel NewsAsia, "The yen made solid gains. The dollar dropped sharply against the Japanese currency, trading at 102.98 yen compared with 104.10 yen Friday. The euro fell to 140.77 yen from 142.32."
Nonetheless, the value of the British pound is dropping more dramatically than the US dollar.
To read the entire article from Channel NewsAsia, link here:
|< Prev||Next >|