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The dollar’s slide: 1/3 down and falling faster

We’ve posted this before - but as the ailing US currency drops through $1.47 against the euro and $2.10 against sterling, it merits a second (and updated) airing.

The chart comes from Sempra Metals, who make a couple of additional points:

• The US dollar has now lost more than a third of its value (-35%) against a basket of major currencies since Feb 2002.
• The decline is accelerating. The USD has shed -12.5% of its value in the last year, -3.5% in the last month, and -1.5% in the last week alone.

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This entry was posted by Helen Thomas on Wednesday, November 7th, 2007 at 11:03 and is filed under Capital markets. You can follow any responses to this entry through the RSS 2.0 feed. Responses are currently closed, but you can trackback from your own site.

1. Nov 16   5:30 Posted by أفكار في الاستثمار [report]

   […] نتابع جميعا التدهور المستمر في سعر صرف الدولار الأمريكي مقابل بقية العملات، وتأتي معلومة مثل أن الدولار الأمريكي خسر قرابة 35% من قيمته مقابل اليورو منذ عام 2002 (المصدر جريدة الإيكونومست +  فايننشل تايمز) لتمثل حقيقة بسيطة مفادها أن جميع الدول التي تربط عملتها بالدولار قد خسرت ربما أكثر من هذه القيمة، فإن كان الاقتصاد الأمريكي أقوى اقتصاد في العالم، لديه من المرونة ما يمكنه من التعافي من كبوة مثل هذه، فإننا في بلادنا العربية لا نملك هذه المرونة. […]

2. Nov 13   13:35 Posted by M.I.T.C.H. feat. Uffie & Feadz - ‘Fais Rentrer Les Euros’: Larytta, Audioporno & Feadz remixes. at Missingtoof.com [report]

   […] In 2007, the American dollar is falling and Jay-Z’s flashing Euro’s in his new video—I’m with M.I.T.C.H. on this one: Let’s get this money and make it European! Fead’z remixed ‘Fais Rentrer Les Euros’ for the official release and puts the vocal effects on hard-hitting front street: […]

3. Nov 10   3:07 Posted by JoeWo Joe Wosik Blog » Blog Archive » The dollar is sliding fast! [report]

   […] A graph showing the relative strength of the dollar is a scary one!!!  Story is here […]

4. Nov 09   15:30 Posted by Garry Tano’s Blog » Blog Archive » peeing out our poo poo’s [report]

   […] There is a lot of talk about the plummeting American dollar over hear. Its good timing for me as my dept is in American dollars and my income is in the Swiss franc. It is not often that your dept decreases in value. […]

5. Nov 07   23:21 Posted by fxtrader [report]

   well, I’m not sure the previous comment is appropriate nor relevant, but hey, if Gisele has an opinion (whether that story is bull or not) on the USD, then everyone’s opinion’s welcome..
   For me, I just reckon we hit the bottom (for now). Ok, fair enough I thought the 1.42-44 level would be tough to break, but now we hit 1.47… ok, maybe we’ll hit 1.50 but I don’t think it’ll come short term. The Chinese comments (which took the pair to 1.4730 at 2.30am UK last night) were not exactly new. If you have 1.43 tr of USD, of course it makes sense to diversify!!! And the recent creation of a fund was evidence of this. Arguably, it was a gaffe. What’s interesting is the way the market reacted. And it might just be possible we see a significant pullback between now and Christmas. (US corporates will need to bring profit back home, while US fund managers will want to show their clients how well they invested their USD abroad! That ought to be flows significant enough to support the USD for a while.

6. Nov 07   21:28 Posted by Recession? « Thinking Points [report]

   […] […]

7. Nov 07   20:57 Posted by make it news » Decline and Fall (of the US Dollar) [report]

   […] A look at the dollar’s fall during Bush’s presidency — from the Financial Times. […]

8. Nov 07   17:46 Posted by John Doh! [report]

   Personally I’m thinking of buying apple. Hopping on a plane and buying a Mac at half price is looking tempting

9. Nov 07   12:10 Posted by my future in currency speculation at hagerty.net [report]

   […] The dollar is doing so badly that I can’t even consider buying Apple as any growth will be swamped by the declining value of its underpinning currency! […]

10. Nov 07   12:03 Posted by Further to fall [report]

    It has a lot further to fall. Maybe we will see a small rally sometime but Gold and Silver are telling us otherwise.

    Apparently there are $6 trillion dollars outside the US. Looks like they will end up being toilet paper. It appears no one in the US has any backbone anymore and unable to take the pain of what’s needed.

    Cutting rates will not work this time!