The U.S. dollar slid to a 1-year low against the euro on Tuesday near $1.48 as deteriorating sentiment on the U.S. currency encouraged selling ahead of a Federal Reserve meeting and Group of 20 summit this week.

In the currency market, the dollar fell again against the euro. Late Friday, the euro was trading at $1.3247 vs. $1.3145 on Thursday.

Well now, anyone who took my advice on Friday should have had a pleasant weekend, unconcerned about what the G20 leaders would do, which as I figured was just about nothing.  They pledged to rig up more regulations that would preserve the place of the money-shuffling class in the world’s power structure, and made a few noises about the United States having somewhat less influence in that power structure going forward.  Neither of which was much of a surprise.

Losses in equities worldwide top $25 trillion. What say ye, Obama?… Japan, eurozone enter recession, Gulf bourses continue to tumble… Turning fear into profit: A special volatility report, and plenty more…

G20 largely a non-event…  Pound moves up…  Brazil falls on sell off of emerging markets…  Japan enters recession… And Now… Today’s Pfennig!

In the currency market, the dollar edged lower against the euro. Late Monday, the euro was trading at $1.275 vs. $1.2712 on Friday. China’s state-run news agency, Xinhua, said that the government’s stimulus program will “will loosen credit conditions, cut taxes and embark on a massive infrastructure spending program in a wide-ranging effort to offset adverse global economic conditions by boosting domestic demand.”