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Dollar Loses More Ground
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Battered by bad news and mounting fears over the American economy, the dollar plumbed new depths on Thursday, helping drive oil prices to record levels. The greenback traded at a new low of $1.56 against the euro, while oil prices settled at $110 a barrel. Early in the day, the dollar sank below 100 Japanese yen for the first time since 1995, but it ended the day slightly above that milestone. (New York Times [1], Friday)
Government failure.
FEE Timely Classic
What Government Officials Cannot Know [2] by Brian Summers
Article printed from Foundation for Economic Education: http://www.fee.org
URL to article: http://www.fee.org/articles/in-brief/dollar-loses-more-ground/
URLs in this post:
[1] New York Times: http://www.nytimes.com/2008/03/14/business/worldbusiness/14dollar.html?hp
[2] What Government Officials Cannot Know: http://www.fee.org/publications/the-freeman/article.asp?aid=6023
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