Wednesday, November 16, 2016

Dollar Hits 14-Year High

The dollar hit a 14-year high against a basket of currencies overnight.

The dollar index, a measure of its value against a basket of currencies, rose to 100.5, its highest since April 2003.

The dollar also rose 0.5 percent against the yen to a five-month high of 109.75 yen. It rose to an eight-year high against the Chinese yuan of 6.8703 and the euro fell below $1.07 for the first time in a year.

This won't last given Trump's planned spending programs which will result in massive new amounts of money entering the system.

 -RW

1 comment:

  1. 14 years... 2002. Silver was about $5/oz back then.

    ReplyDelete