US dollar falls below Swiss Franc today

by whataboutbob Fri Mar 14th, 2008 at 11:57:12 AM EST

Wow! This is news...how low will it go??

ZURICH, Switzerland - The U.S. dollar fell below the Swiss franc for the first time ever Friday. The dollar briefly dipped to 0.9996 francs in international trading before rising above parity again.
The U.S. currency's decline against the franc mirrors its fall against the euro. The 15-nation euro reached a new record of US$1.5651 Friday on news of financial woes at U.S. Bank Bear Stearns Cos. (...)
Hettinger said in a recent interview that the dollar would likely stabilize versus the franc, which has seen a revival of its status as a "safe haven" currency since the start of the global financial turmoil last year. (...) The rising value of the franc against the dollar has worried Swiss exporters, and market observers have closely monitored the exchange rate as it approached the psychologically important mark of one-to-one. In 1971, the U.S. dollar was worth four francs.

Well, I don't know what else this means for America or Europe financially (hopefully some of our more knowledgeable types will have something to say), but it sure means we won't likely be seeing as many US tourists in Europe this year (although, watch out America, here come the Swiss!!).

US dollar falls below Swiss Franc today | 14 comments (14 topical, 0 editorial, 0 hidden)

Re: US dollar falls below Swiss Franc today (4.00 / 8)

How's that!! I am off at work and obsessing about the US elections, and haven't been around here for ages, and then finally drop back in with two obscure news pieces!! Oh well, we live in interesting and busy times...

"Once in awhile we get shown the light, in the strangest of places, if we look at it right" - Hunter/Garcia

by whataboutbob on Fri Mar 14th, 2008 at 11:59:05 AM EST

Re: US dollar falls below Swiss Franc today (4.00 / 7)

I sure hope my wheels don't fall of my wheelbarrow, I need to get my money to the store for a loaf of bread.

"I said, 'Wait a minute, Chester, You know I'm a peaceful man...'" Robbie Robertson

by NearlyNormal on Fri Mar 14th, 2008 at 01:22:13 PM EST
[ Parent ]

That is SO early 20th Century ... (4.00 / 6)

I've been accused of being a Marxist, yet while Harpo's my favourite, it's Groucho I'm always quoting. Odd, that.

by BruceMcF (agila61 at netscape dot net) on Fri Mar 14th, 2008 at 07:18:24 PM EST
[ Parent ]

Re: US dollar falls below Swiss Franc today (4.00 / 2)

Now the dollar even touched 0.9988 Swiss Franks, but is quoted currently at parity.

Meanwhile, the dollar tumbled to $1.5688 per Euro. Also to 98.80 yen (but it should fall another 20% against that currency for a lowest-ever).

_{*Lunatic*, n.

One whose delusions are out of fashion.}

by DoDo on Fri Mar 14th, 2008 at 03:00:28 PM EST

The yen's hitting a penny? ! (4.00 / 2)

Yeah, sure, Swiss tourists ... but the Japanese tourists are going to be here in droves again.

I've been accused of being a Marxist, yet while Harpo's my favourite, it's Groucho I'm always quoting. Odd, that.

by BruceMcF (agila61 at netscape dot net) on Fri Mar 14th, 2008 at 07:20:28 PM EST
[ Parent ]

Tourists? But they're furriners! (4.00 / 3)

Going to the US might be cheap, but unless you like being fingerprinted, prodded, anal-probed, racially profiled and interrogated, it's not a pleasant experience at the border.
Me, there's no way I'd visit back until Pres. Obama is sworn in.

A 'centrist' is someone who's neither on the left, nor on the left.

by nicta (nico＠altiva․fr) on Sat Mar 15th, 2008 at 05:08:26 AM EST
[ Parent ]

Re: Tourists? But they're furriners! (4.00 / 4)

If you think the DHS will magically change its procedures the minute Obama is sworn in, I have a bridge to sell you...

Rolling back the US presidency is going to be an uphill battle, assuming the next Democratic president is willing to undertake it.

It'd be nice if the battle were only against the right wingers, not half of the left on top of that — François in Paris

by Migeru (migeru at eurotrib dot com) on Sat Mar 15th, 2008 at 06:10:31 AM EST
[ Parent ]

I know (none / 1)

I'm not saying everything will be honkey-dory, just that I will not under any circumstance go there until then.

A 'centrist' is someone who's neither on the left, nor on the left.

by nicta (nico＠altiva․fr) on Sat Mar 15th, 2008 at 07:02:27 AM EST
[ Parent ]

Re: Tourists? But they're furriners! (4.00 / 4)

Migeru:

Rolling back the US presidency is going to be an uphill battle, assuming the next Democratic president is willing to undertake it.

It would take some work in Congress, in particular, to repeal a number of bills of the Bush era. I agree that the president's initiative, or lack thereof, would be a big factor. Watch out for the presence in the new administration of people from David Addington's school.

The New Yorker: The legal mind behind the White House's war on terror

Most Americans, even those who follow politics closely, have probably never heard of Addington. But current and former Administration officials say that he has played a central role in shaping the Administration's legal strategy for the war on terror. Known as the New Paradigm, this strategy rests on a reading of the Constitution that few legal scholars share--namely, that the President, as Commander-in-Chief, has the authority to disregard virtually all previously known legal boundaries, if national security demands it.

You're clearly a dangerous pinko commie pragmatist.

by Vagulus on Sat Mar 15th, 2008 at 07:31:34 AM EST
[ Parent ]

Oops! (none / 1)

I mean rolling back the Bush presidency, naturally.

It'd be nice if the battle were only against the right wingers, not half of the left on top of that — François in Paris

by Migeru (migeru at eurotrib dot com) on Sat Mar 15th, 2008 at 09:06:37 AM EST
[ Parent ]

Re: Oops! (none / 1)

Not to worry, that's exactly how I understood it. My brain filled in the missing word!

You're clearly a dangerous pinko commie pragmatist.

by Vagulus on Sat Mar 15th, 2008 at 10:14:04 AM EST
[ Parent ]

Good points ... more reason to be expecting ... (none / 0)

... more Japanese group tours than a big rush of Yurpeans.

I've been accused of being a Marxist, yet while Harpo's my favourite, it's Groucho I'm always quoting. Odd, that.

by BruceMcF (agila61 at netscape dot net) on Sat Mar 15th, 2008 at 03:40:27 PM EST
[ Parent ]

Re: Tourists? But they're furriners! (none / 1)

Don't fret. The time may soon arrive when the "border crews" will smile for all those shiny Euros entering the country.

I can swear there ain't no heaven but I pray there ain't no hell. _ Blood Sweat & Tears

by Gringo (stargazing camel at aoldotcom) on Sat Mar 15th, 2008 at 06:08:33 PM EST
[ Parent ]

Re: Charts!! (4.00 / 3)

Wow, scan over this article...

http://www.dailykos.com/story/2008/3/14/112230/168/442/476541

"Once in awhile we get shown the light, in the strangest of places, if we look at it right" - Hunter/Garcia

by whataboutbob on Fri Mar 14th, 2008 at 06:33:15 PM EST

US dollar falls below Swiss Franc today | 14 comments (14 topical, 0 editorial, 0 hidden)

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US dollar falls below Swiss Franc today

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