With the Start of the Financial Crisis in August 2007,the

Essay

With the start of the financial crisis in August 2007,the dollar began an accelerated decline in value,falling by 9% against the euro.At that point,the financial crisis appeared to be a U.S.problem.However,by mid-2008,the crisis spread to Europe.Discuss the reaction of the dollar to actions taken by European central banks in late 2008 to deal with the widening financial crisis.