Shutdown Causes Dollar Value To Tumble Worldwide

Revelation 6:5,6 NCV When the Lamb opened the third seal, I heard the third living creature say, "Come!" I looked, and there before me was a black horse, and its rider held a pair of scales in his hand. Then I heard something that sounded like a voice coming from the middle of the four living creatures. The voice said, "A quart of wheat for a day's pay, and three quarts of barley for a day's pay, and do not damage the olive oil and wine!"

The U.S. Dollar has fallen to an 8-month low due to the government shutdown that has caused concern in major trading markets.

Analysts say the dollar index, which fell to 79.864, did not fall as far as it could have fallen because investors and traders had expected the shutdown. The dollar index tracks the Dollar against six major world currencies.

The dollar fell to an 8-month low against the Euro and an 18-month low against the Swiss franc.

The economic impact is being debated among economists and analysts. Goldman Sachs says a three-week government shutdown could end up lowering the country’s GDP by 0.9% this quarter.

Other analysts say the government’s lack of agreement on raising the “debt ceiling” is a bigger concern to world economic markets. The current debt ceiling is scheduled to be reached on October 17th.

Economists also say the shutdown will delay key reports from the Labor Department that assist in predicting financial outcomes and forecasts.

Leave a Reply