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Dollar falls on US growth data

Dollar falls against euro, pound, yen after US economic growth falls short of forecasts

Associated Press – Fri, Jan 27, 2012 12:16 PM EST

NEW YORK (AP) -- The dollar is falling against most other currencies after the government said that the U.S. economy grew at a slower pace in the fourth quarter than economists had expected.

Traders also bought euros following a successful bond auction in Italy, a sign that investor confidence in the country is improving.

The euro rose to $1.3190 in midday trading Friday from $1.3104 late Thursday.

The British pound rose to $1.5710 from $1.5688. The dollar fell to 76.68 Japanese yen from 77.49 Japanese yen, to 0.9147 Swiss franc from 0.9205 and to 1.0010 Canadian dollar from 1.0014 Canadian dollar.

 

1 comment

  • Dar
    Dar  •  26 days ago
    The dollar is falling against other currencies, but all major currencies are inflated. Inflating the money supply causes a drop in value in terms of haircuts, gallons of gasoline, loaves of bead, flu shots. This might be called price inflation and with excess reserves in the US, this might lead to hyperinflation.

    The world needs monetary reform. The world needs sound money. But, politicians do not want sound money (except Ron Paul in the US), they want money that lets them spend and spend while creating lies of prosperity.
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