Dollar staging a comeback?
I remember when the Euro first made it's debut, it's value was much less than the U.S. dollar and didn't look like it could do much more than be a subservient like the Loony!
Then came G. W. Bush and war in Iraq (that frankly had nothing do do with 9/11 and the friends some of us lost on that day), and Trillion dollar deficits.
The dollar sank, as will happen when someone wastes the value of a currency on a valueless commodity (deficit!) Not to mention the lack of confidence in regards to the housing crisis.
So here we are and the Dollar is rising, it's rising because oil has dropped 30% from it's high and the Euro is down 13% from it's high against the dollar. Is it just temporary?
What might this mean? Does the US Dollar have a future? I have to say I was worrying. I want to stop worrying but it's just too soon to feel sure.
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