The American dollar continues to plunge against a number of currencies, as it broke another record low against the euro, and dropped to its lowest level against the Canadian dollar in 47 years.
For the euro, went past the $1.44 mark for the first time ever, and the Canadian dollar topped off at $1.0509 today, before receding to $1.0494.
Since the beginning of the year, the U.S. dollar has dropped 18.2 percent versus the Canadian dollar.
The U.S. dollar did climb against the Japanese yen, reaching 114.59, while also increasing against the Swiss franc, reaching 1.1651.
American exporters, overall, could really end up with some great numbers next quarter, as less expensive American goods become bargains in other countries. The tourist industry looks to benefit greatly as well.
The U.S. trade deficit should also continue to shrink, as it has dropped significantly along with the decline of the dollar.
In other financial news, most are expecting the Fed to drop interest rates from the 4.75 percent it is today. Even so, the concern about inflation is still a major issue with the decision-makers.
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