Euro Soaring to New Highs against US Dollar!

The Dollar is at an all time Low against the European currency, (The Euro). The Euro rose to $1.466 against the dollar in Asia after there is specualtion that the fastest rising Economy China might shift more of its foreign-currency stockpiles into the Euro and away from the US dollar.

If you live in Europe you might be thinking of taking advantage of the dollar being at a record low and take a vacation to the good old US of A. Euro is becoming the top currency and the currency of choice. Even people in the entertainment industry are demanding payment in Euros rather than the dollar.

The two rate cuts made by the Federal Reserve Bank only allowed the currency to sink deeper against its overseas counterparts. The Euro is like the google of the currency market as some traders now beleive that the Euro will rise as much as $1.50 against the dollar by year end.