Dollar Falls to Record Low

The never ending saga goes on and every hour we receive news reports on the spiral drop of the dollar and the latest up-date is the dollar fell to a record low against the euro and Swiss franc on concern credit-market losses will slow economic growth.

Currencies in New Zealand, the U.K., Australia and Norway gained on speculation a group of six Arab nations will change their fixed exchange rates from the U.S. currency.

The dollar fell to $1.4805 per euro at 9:11 a.m. in New York, and touched $1.4814, the lowest since the 13-nation currency started trading in January 1999.
The dollar will decline to $1.50 per euro by the end of the year, according to our WorldWatch analyst.

The U.S. dollar also fell to 5.4017 Norwegian krone, which gained the most versus the 16 most-actively traded currencies.
The yen fell to 162.90 per euro as a rebound in global stocks encouraged investors to buy higher-yielding currencies funded by loans in Japan.

We are going to see further declines in the dollar.