March 8, 2011
Contrarian Alert: Everyone Hates the Dollar
Colin Barr, Street Sweep
Following the money in banking, economics and Washington
Dollar doomsaying is at record levels. Is it time to stray from this unhappy flock?
The dollar slipped Monday, as the prices of oil and gold rose yet again. Even the other sickly paper currencies perked up, with the euro hitting $1.40 – just pennies below its annual high -- despite looming questions about the fate of the weaker economies on Europe's peripheries.
Moody's downgraded Greece for the umpteenth time, noting the government's difficulties in collecting taxes, and bond yields hit new highs in Portugal.
Higher borrowing costs won't help the Portuguese avoid becoming the third European Union state, after Greece and Ireland, to...
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