Since 2007 the dollar has been in steady decline. Against the £ the dollar has fallen from a low of £1 = $1.45 to close to the £1 = $2 mark. Against the Euro the $ has also depreciated from 0.85 to the present level of 1 Euro to $1.35.From several perspectives the fall in the value of the dollar appears to be following basic economic fundamentals and whilst these imbalance continue the dollar may continue to fall. We set a $5 bill free on the streets of London, during the lunch rush, hoping to get a “snatchy.” No luck. Minutes and hours went by with not even a peak at the lonely Lincoln. Our producer advised us to place candy around the bill. Still no takers. We asked one of the locals why the reject for US currency? She simply stated, “I don’t bend over for anything less than a $50.”
No comments:
Post a Comment