Doubts About the U.S. Economy Haven't Affected the Value of the U.S. Dollar

Wondering whether turmoil in the stock market has affected the value of the U.S. dollar, you might be reassured by turning to that authoritative website on currency, www.xe.com . If you do, you'll find that the value of the U.S. dollar hasn't budged by a penny over the past two weeks of sharp stock market declines. The Euro continues to be worth $1.42 and the British pound continues to be worth $1.62. The Chinese Yuan is trading at a stable 6.43 to the U.S. dollar. In the same way that foreign holders of U.S. treasury certificates and bonds haven't dumped either, no one appears to be dumping the U.S. dollar or driving its value sharply down.

Take that, Standard & Poor!