Archive for August, 2008

Go Dollar Go!!

August 10, 2008

Maybe I should take more vacations!  I have just returned from a week of family vacation, and my jaw dropped to see how dramatic the dollar’s recovery has been in the last week!  Kicking Butt, as my kids would say. 🙂

The dollar blew through the 1.53 resistance level, without even taking a breath.  It surged to below 1.50 to the euro on Friday.  Supposedly the next resistance level is $1.4920.  Well, I just checked and the dollar is toying with that level today, trading around 1.494.  What a turnaround!

This can only be good news for everyone traveling to Europe, or contemplating a purchase there.  The word on the street is that we have hit bottom and the dollar is now recovering round almost as quickly as it lost it.