Dollar hammers Peso in early trading; Greek economic woes continue; U.S. markets nosedive

Update Friday, Sept. 23, 9:00 a.m. The U.S. dollar is still on a roll this morning. In most institutions a dollar will return at least 13 pesos, and those wising to buy dollars will have to fork over 14+ pesos -- both yearly highs.
Original Report: The U.S. dollar hit another high as world markets opened this morning. A dollar cost 14.05 Mexican pesos, and brought 13.25 pesos in return. Some experts predict that by day's end the dollar will return 13.65 to 13.95 pesos. Continuing global economic difficulties coupled with the European sovereign debt crisis, the latter of which has its epicenter in Greece, are vigorously boosting the U.S. currency. For the same reasons the dollar also advanced against the Euro. Greece announced today that it will continue with austerity measures in order to avoid default on its public debt. Pensions were cut again and civil service jobs were suspended or terminated, which brought demonstrators onto the streets once more. Transportation workers and air traffic controllers are staging work stoppages, which will disrupt travel. The situation is really heating up in Athens, just as it did in May and June, and there is the potential for violent uprisings. Further evidence that both Europe and the United States stand at The Edge of the Precipice. See my post below.

Update from the Associated Press Thursday, Sept. 22, 4:00 p.m. "Stocks have closed sharply lower after investors sold stocks with abandon, convinced that the U.S. and the world are headed for a new recession. The Dow Jones industrial average fell as much as 527 points. At the close of trading, the Dow was down 391.01 points, or 3.5 percent, at 10,733.83. Nineteen stocks fell for every one that rose."