Why is the Euro losing ground to the US$?

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  1. #1

    Join Date
    Feb 2008
    Posts
    186

    Why is the Euro losing ground to the US$?

    The US is the world's largest debtor. You would expect that their currency get a hammering. Instead it is strengthening (not only against the Euro, also against the GBP, as you know)???

    Come on, I put like 1/3 of my money in Euros, and I lost 10%! What can be expected in the near future???

    What do ya reckon?


  2. #2

    Join Date
    Jul 2008
    Location
    Sheung Wan
    Posts
    240

    help European market!

    I'm not an expert in economics, but let me tell you that the 1euro = 1.6$ was terrible for the European economy (Airbus Vs Boeing and basically all European comp. against US comp.).

    So I guess that in such times of crisis, the BCE (European Central Bank) will not try to do anything to prevent the $ to go back to a more reasonible rate.

    I heard that it would change after the US elections though..

    But everything looks f..up today, doesn't it??

    PS: not so funny thing is that I'm paid in Euros so since June it's just like if I was paid less and less