As I get mostly paid in dollars the $/€ currency exchange plays a relatively big role in how much money I earn. For the last couple of years the currency exchange hasn’t really been that great – the overall trend is that the U.S. dollar just keeps dropping and dropping against the euro.
The euro is becoming stronger and that means I earn less as the value of a dollar just keeps dropping. The reason why I’m bitching about this today is because the dollar has reached a new record low against the euro. This morning the euro was worth 1.3879 dollar – a new record.
Here you can see how the dollar/EUR currency exchange changed over the last five years. From a bit more than 1EUR per dollar to about 0.72EUR per dollar today.
Analysts say the reason for this new record low are fears that the FED will lower its rate next week to prevent that the turmoil in the housing market spreads to the rest of the U.S. economy.