In a recent article "Iraq election helps the dollar" the media tells us how the dollar gained strength compared to the yen going from ¥103.37 to ¥103.43 early Monday. They assume such a jump is due the recent elections in Iraq. My question is the dollar really “firmer today”?
So I went to another website x-rates.com to inquire about this sudden strengthening of the U.S. dollar. From January 28 to January 31 three out of five major currencies actually gained against the dollar including the European Euro, Canadian dollar, and Austrian dollar. Another currency the British pound stayed the same. According to x-rates.com only one out of five major currencies the Japanese yen gained favor to the U.S. dollar.
So my mind is left with questions like? Is the media out for consumers’ best interests? Do they feed us information that might be tampered with? And how much does our economy depend on the media?