Word: slides
(lookup in dictionary)
(lookup stats)
Dates: during 1970-1979
Sort By: most recent first
(reverse)
...dollar's long slide in value turned into a headlong, chaotic dive. In Zurich, where selling pressure was greatest, the plunge lopped nearly 4% off the dollar's value against the Swiss franc in a single day. So, at just about the time last Wednesday when Jimmy Carter told an evening audience of French businessmen in Paris that "the U.S. will strive to maintain the strength of the dollar," the Treasury and the Federal Reserve Board in Washington put substance behind his words...
...record books. On Thursday morning in Zurich, the dollar opened 1% up in value against the Swiss franc from the previous day. the sharpest overnight dollar rise ever recorded there. In Frankfurt, where the dollar had sagged to a record low of 2.07 marks during its autumn-long slide, it abruptly recovered to nearly 2.16, also a record rise. In Tokyo. where the dollar had fallen to a postwar low of 237 yen on Wednesday, it promptly rebounded...
...than other nations who are far more dependent on foreign trade. But the dollar's decline injures America's foreign relations by angering friendly countries that fear the effects of a rise in their own currencies on the exports that are all-important to them. The dollar slide could accelerate world inflation: when other countries act to keep their own currencies from rising against the dollar, their moves, for complex technical reasons, increase the money supply in these countries -an inflationary force. And when exchange markets get as chaotic as they did last week, there arises the nightmare...
...domestically produced goods that compete against imports, without fear that foreigners will undersell them. Moreover, the dollar is the currency most often used in world oil transactions. Although OPEC has frozen the price of oil until June, it might boost prices then to make up for a continued slide in the value of the dollars that its member countries earn by selling oil. That would further fuel inflation...
...American farmers sell to Japan or the Soviet Union depends less on price than on the state of harvests around the world. U.S. exports of machinery and consumer goods do benefit from lower prices -but their prices were competitive with those of foreign products before the dollar's slide began...