The incredibly shrinking dollar

Posted By Blake Hounshell Wednesday, October 31, 2007 - 5:40 PM Share

Time to cancel that weekend trip to Europe:


Euro-dollar exchange rate, last 3 months

Or to Britain: 


Pound-dollar exchange rate, last 3 months

Oh, and by the way:

Oil surged more than 4 percent to a record over $94 a barrel on Wednesday after a steep drop in U.S. inventories fueled winter supply concerns and the U.S. Federal Reserve cut interest rates.

Under ordinary circumstances, I am vehemently opposed to emoticons, but this calls for a big :( .

EXPLORE:EUROPE, ECONOMICS
 

Passport, FP’s flagship blog, brings you news and hidden angles on the biggest stories of the day, as well as insights and under-the-radar gems from around the world.

Read More