The dollar dropped to its lowest level against the euro this year on speculation record U.S. borrowing will undermine the greenback, prompting nations to consider alternatives to the world’s main reserve currency.
The 16-nation euro gained for a fourth day versus the dollar as the Russian government said emerging-market leaders may discuss the idea of a supranational currency. The pound strengthened to $1.65 for the first time since October.
“There’s been a lot of talk out of Russia about a new global currency, and that’s contributing toward this latest bout of dollar weakness,” said Henrik Gullberg, a currency strategist at Deutsche Bank AG in London. “These latest comments are just adding to the general dollar weakness we’ve seen recently.”
You are free to comment on this discussion in any way you feel is appropriate. If you choose to use to use any language which our editors feel is vulgar -- by their standards -- your comment may be tagged "Crude or Lewd" and may be filtered out of the discussion by those who prefer not to read that sort of thing. If you know you have entered something which will cause your comment to be tagged, we ask that you tag it yourself to save us the time. We do encourage everyone to be civil and not make rude attacks on other people in the Forum. We don't censor out those remarks, but few people enjoy reading them and we would like participation in our Forums to be a pleasant experience for everyone. And, by concentrating on what is said instead of who is saying it, even those who may disagree with you will be more likely to consider your opinions valid.
