Dollar Falls to Six-Week Low as CIT Prospects Boost Risk Demand

denem

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Mon Jul-20-09 11:12 AM
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Dollar Falls to Six-Week Low as CIT Prospects Boost Risk Demand

Source: Booomburg

July 20 (Bloomberg) -- The dollar dropped to a six-week low against the euro and the yen slid as CIT Group Inc. was said to be offered a chance to restructure its debt outside bankruptcy, encouraging demand for higher-yielding assets.

Read more: http://www.bloomberg.com/apps/news?pid=20601101&sid=aPTHQkG0wSs0

The US dollar risks losing its status as the reserve world currency? I say, 'Bring it on'. Let the price of Euro calculated Chinese products rise in the US, killing the 'Special Relationship' China enjoys in wiping out US Industry. Let the cost of oil float freely, freeing, oil prices. forcing Americans to pay the real price of frying the planet.

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