Kuwait lets dinar rise for 5th day, highest since Jan ‘88
The euro rose 0.2 percent to $1.5381
The dollar slipped back toward a record low against the euro and an eight-year low versus the yen on Monday, after surprisingly weak U.S. jobs figures heightened concern the U.S. economy may have fallen into recession.
The dollar took a beating on Friday after data showed U.S. employers unexpectedly cut 63,000 non-farm jobs in February, the steepest rate of job cuts in nearly five years. The news heightened worries that the U.S. economy had slipped into recession and sent the dollar tumbling to record lows against the euro, the Swiss franc and a basket of major currencies, and to eight-year troughs versus the yen.
I read somwhere that we are “hyping” our own selves into a recession. You think this is true? This is the link that I read that at. http://www.businessweek.com/investor/content/mar2008/pi2008035_362526.htm?chan=top+news_top+news+index_top+story