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The US dollar reached an all-time low against the euro yesterday for the fourth straight d

ay, briefly pushing the European currency above $1.33 before recovering slightly, amid concerns about the twin US deficits and the lack of any central bank action to stop the dollar's decline.

The dollar also dipped to a nearly five-year low against the yen, but later regained ground.

Yesterday, the euro rose to $1.3329 in early trading before dipping back to $1.3290 later in New York. The euro topped $1.32 for the first time the day before in European trading. US markets were closed Thursday for the Thanksgiving holiday.

The dollar also traded near its lowest levels since December 1999 against the Japanese yen yesterday, slipping to 102.56 yen, down from 102.81 late Wednesday in New York.

One reason the euro has kept rising is a lack of concerted action by central banks to support the dollar by selling holdings of the other major currencies.

"$1.35 is definitely on the cards now, as for how soon we'll get there, I'm not sure," said Riz Din, a currency analyst with Barclay's Capital in London.

"It increasingly looks as if, despite weaker data in the euro area, the prospects for intervention, are very, very low at current rates."

The latest dollar collapse, fueled by concerns over the US trade and budget deficits, has taken the euro from around $1.20 about two months ago.

Because the euro's rise tends to make European products more expensive, European leaders have voiced fears that it might hurt the continent's export-driven economic recovery. The European Central Bank's president has called the rapid increase "brutal".

But the dollar's weakness is good news for US exporters, helping make American products less expensive overseas.

Commerzbank economist Michael Schubert said speculation against the dollar was making its slide "a bit faster than I had expected".

"Obviously, it's difficult to stop the train," Mr. Schubert said in Frankfurt. A combination of intervention by central banks and positive US economic data could apply the brakes, he added.

Economists say the European Central Bank (ECB) is wary of intervening in the currency markets on its own and the United States Would be unlikely to join in such a move.

According to the text, the dollar

A．has reached its lowest level against euro yesterday.

B．was lower than euro in the past four continuous days.

C．is still staying in a worse position than the yen.

D．kept failing despite the central bank's adoption of active measures.

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更多“The US dollar reached an all-t…”相关的问题
第1题
The Chinese yuan rose to a new high______the US dollar on Monday, China Daily reported.A．w

The Chinese yuan rose to a new high______the US dollar on Monday, China Daily reported.

A．with

B．of

C．for

D．against

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第2题
The factor NOT accounting for the slide of dollar isA．the US trade and budget deficits.B．t

The factor NOT accounting for the slide of dollar is

A．the US trade and budget deficits.

B．the lack of any central bank action.

C．the speculation against the dollar.

D．the sales of other major currencies.

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第3题
According to the author, Americans' cultural blindness and linguistic ignorance will______
.

A．affect their image in the new era

B．cut themselves off from the outside world

C．limit their role in world affairs

D．weaken the position of the US dollar

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第4题
下列英汉对照错误的是()。
下列英汉对照错误的是（)。

A.“Western Union Money Transfer” 西联汇款

B.“The Highest Limit for Cashing” 金额最高限额

C.“The US dollar is the only option for sending money.” 只能汇美金

D.“What kinds of currency are available？” 可以收寄哪些种类的货币

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第5题
It was inevitable that any of President George W. Bushes fans had to be very disappointed
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Since 1950s, Big Steel has been reluctant to make the investments needed to match the new technologies introduced elsewhere. It agreed to high wages for its unionized labor force. Hence, the companies have difficulty in competing not only with more efficient producers in Asia and Europe but also with technologically advanced U.S. mini mills, which rely on scrap metal as an input. Led by Nucor Cot., these mills now capture about half of overall U.S. sales.

The profitability of U.S. steel companies depends also on steel prices, which, despite attempts at protection by the U.S. and other governments, are determined primarily in world markets. These prices are relatively high as recently as early 2000 but have since declined with the world recession to reach the lowest dollar values of the last 20 years. Although these low prices are unfortunate for U.S. producers, they are beneficial for the overall U.S. economy. The low prices are also signal that the inefficient Big Steel companies should go out of business even faster than they have been.

Instead of leaving or modernizing, the dying Big Steel industry complains that foreigners dump steels by selling at low prices. However, it is hard to see why it is bad for the overall U.S. economy if foreign producers wish to sell us their goods at low prices. After all, the extreme case of dumping is one where foreigners give us their steel for free and why would that be a bad thing？

According to Anne Krueger, long-term government protection given to steel companies

A．will increase the state wealth.

B．will threaten trade monopoly.

C．will raise their competitiveness.

D．will ultimately hurt consumers.

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第6题
It was inevitable that any of President George W. Bush's fans had to be very disappointed
by his decision to implement high tariffs on steel imported to the U.S. The president's defense was pathetic. He argued that the steel tariffs were somehow consistent with free trade, that the domestic industry was important and struggling, and that the relief was a temporary measure to allow time for restructuring. One reason that this argument is absurd is that U.S. integrated steel companies ("Big Steel") have received various forms of government protection and subsidy for more than 30 years.

Instead of encouraging the industry to restructure, the long-term protection has sustained inefficient companies and cost U.S. consumers dearly. As Anne O. Krueger, now deputy managing director of the International Monetary Fund, said in a report on Big Steel: "The American Big Steel industry has been the champion lobbyist and seeker of protection....It provides a key and disillusioning example of the ability special interests to lobby in Washington for measures which hurt the general public and help a very small group."

Since 1950s, Big Steel has been reluctant to make the investments needed to match the new technologies introduced elsewhere. It agreed to high wages for its unionized labor force. Hence, the companies have difficulty in competing not only with more efficient producers in Asia and Europe but also with technologically advanced U.S. mini-mills, which rely on scrap metal as an input. Led by Nucor Cor., these mills now capture about half of overall U.S. sales.

The profitability of U.S. steel companies depends also on steel prices, which, despite attempts at protection by the U.S. and other governments, are determined primarily in world markets. These prices are relatively high as recently as early 2000 but have since declined with the world recession to reach the lowest dollar values of the last 20 years. Although these low prices are unfortunate for U.S. producers, they are beneficial for the overall U.S. economy. The low prices are also signal that the inefficient Big Steel companies should go out of business even faster than they have been.

Instead of leaving or modernizing, the dying Big Steel industry complains that foreigners dump steels by selling at low prices. However, it is hard to see why it is bad for the overall U.S. economy if foreign producers wish to sell us their goods at low prices. After all, the extreme case of dumping is one where foreigners give us their steel for free and why would that be a bad thing？

According to Anne Krueger, long-term government protection given to steel companies

A．will increase the state wealth.

B．will threaten trade monopoly.

C．will raise their competitiveness.

D．will ultimately hurt consumers.

点击查看答案
第7题
Part ADirections: Read the following four texts. Answer the questions below each text by c

Part A

Directions: Read the following four texts. Answer the questions below each text by choosing A, B, C or D. (40 points)

It was inevitable that any of President George W. Bush's fans had to be very disappointed by his decision to implement high tariffs on steel imported to the U.S. The president's defense was pathetic: He argued that the steel tariffs were somehow consistent with free trade, that the domestic industry was important and struggling, and that the relief was a temporary measure to allow time for restructuring. One reason that this argument is absurd is that U.S. integrated steel companies ("Big Steel") have received various forms of government protection and subsidy for more than 30 years.

Instead of encouraging the industry to restructure, the long-term protection has sustained inefficient companies and cost U.S. consumers dearly. As Anne O. Krueger, now deputy managing director of the International Monetary Fund, said in a report on Big Steel: "The American Big Steel industry has been the champion lobbyist and seeker of protection.... It provides a key and disillusioning example of the ability to lobby in Washington for measures which hurt the general public and help a very small group".

Since 1950s, Big Steel has been reluctant to make the investments needed to match the new technologies introduced elsewhere. It agreed to high wages for its unionized labor force. Hence, the companies have difficulty in competing not only with more efficient producers in Asia and Europe but also with technologically advanced U.S. mini-mills, which rely on scrap metal as an input. Led by Nucor Cor., these mills now capture about half of overall U.S. sales.

The profitability of U.S. steel companies depends also on steel prices, which, despite attempts at protection by the U.S. and other governments, are determined primarily in world markets. These prices are relatively high as recently as early 2000 but have since declined with the world recession to reach the lowest dollar values of the last 20 years. Although these low prices are unfortunate for U.S. producers, they are beneficial for the overall U.S. economy. The low prices are also signal that the inefficient Big Steel companies should go out of business even faster than they have been.

Instead of leaving or modernizing, the dying Big Steel industry complains that foreigners dump steels by selling at low prices. However, it is hard to see why it is bad for the overall U.S. economy if foreign producers wish to sell us their goods at low prices. After all, the extreme case of dumping is one where foreigners give us their steel for free and why would that be a bad thing？

According to Anne Krueger, long-term government protection given to steel companies

A．will increase the state wealth.

B．will threaten trade monopoly.

C．will raise their competitiveness.

D．will ultimately hurt consumers.

点击查看答案
第8题
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A．pessimistic,

B．cheerful.

C．unhappy.

D．optimistic.

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第9题
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第10题
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A．Counteractive.

B．Naive.

C．Interactive.

D．Novel.

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