Dollar hits 14-year low against yen

AFP
November 26, 2009

America Reclaimed note: This just adds validity to the reports we have been hearing for over a year from top economists, proclaiming the dollar’s demise. Unfortunately, it’s time to shift your dollar into a real asset. Everyone recommends gold, which is great, but there’s also other alternatives. For example, silver may spike, as it has not scaled accurately with gold. Check out all of your options, just don’t be afraid to shift your dollar!

The dollar slumped to a 14-year low point against the yen on Thursday, prompting fears that a further surge could hurt a fragile recovery in Japan, the world’s second largest economy.

Gold scored yet another record high, breaching 1,195 dollars an ounce as the US currency waned.

During Asian trading, the dollar slid to 86.28 yen, the lowest level since July 1995.

In later European deals, the dollar stood at 86.64 yen compared with 87.38 yen late on Wednesday in New York. The euro fell to 1.5085 dollars from 1.5127 dollars late Wednesday.

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Tags: 14 year, against, dollar, hits, low, yen

This entry was posted on November 26, 2009 at November 26, 2009 and is filed under Government and monetary. You can follow any responses to this entry through the RSS 2.0 feed.