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.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 .
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.