Wednesday, February 27, 2008
The fruits of Bush's "strong dollar policy"...
Mr. 19% has always maintained that he advocates a "strong dollar policy".
As with everything else he says, the complete opposite is true...
The dollar sank Wednesday to its lowest level ever against the euro after markets took comments from the Federal Reserve chairman as a sign that yet more U.S. rate cuts are on the way.
The 15-nation euro topped $1.50 for the first time since its 1999 introduction in Asian trading, then surged in Europe after Fed Chairman Ben Bernanke told the House Financial Services Committee that "the economic situation has become distinctly less favorable" since last summer.
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