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Dollar index hits 3-year low after U.S. ISM services data - Yahoo! News
My biggest worry right now is hyperinflation. Already, gas prices and inflation are starting to hurt people, especially the unemployed who are already upside down.
But if we see true hyperinflation, even if temporary, it will put this country in a tailspin like we haven't seen since the Great Depression. Maybe worse.
The U.S. dollar fell to a fresh three-year low against major currencies on Wednesday after an industry report showed the pace of growth in the U.S. services sector unexpectedly eased in April.
For details on data, see [ID:nN04125050]
The U.S. dollar index, which measures the value of the greenback versus a basket of major currencies, fell as low as 72.696 .
The dollar also hit a session low versus the euro and extended declines against the yen after the data.
The euro last traded at $1.4920 , up 0.6 percent, having risen as high as $1.4939 on Reuters data, a 17-month high.
Against the yen, the dollar fell 0.4 percent to 80.57 .
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My biggest worry right now is hyperinflation. Already, gas prices and inflation are starting to hurt people, especially the unemployed who are already upside down.
But if we see true hyperinflation, even if temporary, it will put this country in a tailspin like we haven't seen since the Great Depression. Maybe worse.