US Dollar

Sinks to another low against the Euro. Since the FOMC rate cut was announced the US dollar has continued to weaken against most the world currencies.

A note on the dollar. After the feds cut the rates I watched the Jim Cramer show to see what his antics would be now that the FOMC acted. Mr. Cramer was very emphatic in saying to the camera that all of his viewers should ignore people who say the dollar and the economy will weaken. He said the US dollar will not weaken and that he wanted his viewers to shut their ears and eyes to that kind of talk. Well guess what, the dollar DID tank and continues to do so. Mr. Cramer you are overdue to issue a retraction on your prediction.