Dollar Continues to Fall

The dollars' weakness is still the subject of discussion amongst traders around the globe. The weakness of the greenback is as much the result of inherent weakness as to relative frailty when the US economy is compared to its European rivals and Asian rivals. Yesterday the euro advanced when the German business sentiment rose, undermining expectations of rate cut in the eurozone area. This news came in the heels of lackluster figure of US consumer confidence index. The news coming out of Europe reinforces the feeling that the ECB will stay resilient and not curb rates. The dollar was thus under pressure falling 0.7 per cent against the yen and the 1.5 per cent against the Swiss franc and the Australian dollar. The decline of the dollar is bound to continue as the figures of machinery orders dropped by a record number for February. The leveling is still difficult to determine.

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