Dollar's fall is felt around the globe - Washington Post- msnbc.com: "Though still the primary choice for global reserves and commodities, some countries have begun to diversify their dollar holdings, while a nascent push is afoot to re-price some commodities in currencies other than the dollar. In May, Kuwait dropped its currency peg to the dollar and other oil-rich Gulf states have threatened to follow. Perhaps most telling: In recent months, the euro surpassed the dollar as the currency with the largest global circulation.
In very real terms, it has forced Americans to rethink their lust for foreign goods. Sales of luxury, British-made Jaguars and Land Rovers, for instance, are declining in the United States because of the weak dollar, while fewer North American tourists -- a 10 percent drop in the third quarter of 2007 compared with the same period last year -- treated themselves to trips to England."
In very real terms, it has forced Americans to rethink their lust for foreign goods. Sales of luxury, British-made Jaguars and Land Rovers, for instance, are declining in the United States because of the weak dollar, while fewer North American tourists -- a 10 percent drop in the third quarter of 2007 compared with the same period last year -- treated themselves to trips to England."
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