The dollar keeps sinking

The dollar ends 2004 at a 9 year low as "as investors fret about the growing size of the U.S. trade deficit."

Things don't look any better for next year:

"Apart from the odd bout of profit-taking and position-squaring in the past few weeks, the market's view on the euro and dollar going into 2005 is broadly the same as it has been for the past three years: more appreciation is in store for the euro, more depreciation for the dollar."