Terrible timing for those of you Americans ready to cross the pond and travel Europe this summer...the USD is dropping big-time against the euro (and all currencies for that matter). A few weeks ago you could get a euro for $1.20 but now it is more like $1.29.
If you want to understand why this is happening, check out this no-holds-barred analysis of the declining American dollar. There ARE reasons for this decline and it has to do with the terribly unhealthy condition of the US economy and its absolutely massive debt load owed to the rest of the world.
I wouldn't be surprised if the USD is $1.50 to the euro by the end of 2006. Sorry travelers, that is the way it is going to be until we get a Congress and a President that don't run our country into the ground.
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