A Fool and His Money

The dollar has once again declined against the Euro from a near three week high. financial losses will follow as crude oil prices increased.

The Dollar droped for a second time against the Euro in two days after the Federal Reserve Bank of Minneapolis President told the Financial Times the U.S. credit crunch will become worse. The pound also fell against most major currencies as house prices fall in neary 7 years.

The financial sector is far from being healthy

SaidVassili Serebriakov, a currency strategist in New York.

The dollar fell 0.3 from $1.5709 on July 25. It touched $1.5629 on July 24, the strongest since July 7.

The pound decreased 0.2 percent to $1.9868.

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