The dollar collapses

By Edward Harrison On Mar 16, 2008

The dollar has suffered a spectacular collapse against the Euro, Swiss Franc, Gold and Silver as investors flee U.S. Assets in the wake of the spectacular collapse of one of Wall Street’s largest companies, Bear Stearns. The Swiss Franc recently traded through parity with the dollar at 0.9776. The Euro climbed 3 big figures to a record 1.5819. Gold and Silver were both up over 2% to $1022.90 and $21.125 respectively.

The Nikkei 225 was down nearly 400 points, over 3%, in overnight trading in Asia. Be prepared for chaos as the markets open in the U.S. on Monday.

crisis currencies

Edward Harrison 7783 posts 575 comments

Edward Harrison is a senior Editor at Bloomberg. He is also the founder of Credit Writedowns newsletter, a former career diplomat, investment banker and technology executive with over twenty five years of business experience. He speaks six languages and reads another five, skills he uses to provide a more global perspective. Edward holds an MBA in Finance from Columbia University and a BA in Economics from Dartmouth College.

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