September 27, 2007
|Dollar Hits All-Time Low||Economy Peak Oil|
The dollar continued its slide, falling to 1.4189 against the euro today, the dollar's all-time lowest point since the euro was invented. The dollar's set a new low each of the last six trading days.
Meanwhile, oil prices rose $2.58 (3.21%) for the day, to close at $82.88 a barrel, after topping $83 a barrel in intraday trading.
But stocks? They're up. Who says markets are rational?
The markets are probably still giddy from the larger then expected half point cut on the 18th, not to mention another cut that is expected next month.
Hopefully when the economy picks back up, Ben Bernanke wouldn't be as hesitant to raise rates like Alan Greenspan was.
Posted by: Tim Roth at September 27, 2007 11:20 PM