|
|
|
|
|
|
| |
| |
By Category |
 |
|
|
| |
|
| |
| |
India On Media |
|
|
|
| |
|
| |
|
|
| Others
News |
|
| Dollar stays near record euro low |
| The US dollar remained near record lows against the euro in early Friday trading, on growing expectation of a further American interest rate cut.
|
| UNITED STATES OF AMERICA
, 19-October-2007
2:58:12 AM |
| After disappointing US economic data overnight, one euro was worth $1.4304 in early Far East trade, just short of Thursday's all-time $1.4311 low.
Analysts said the rise in US unemployment makes the Federal Reserve more likely to trim rates this month.
Against Japan's yen, the dollar remained near a three-week low.
The greenback was at 115.05 yen in early Friday trade.
Rejuvenate confidence
Commentators now expect the Fed to trim US interest rates from 4.75% to 4.5% when it next meets later this month.
The dollar has been sliding since the Federal Reserve cut rates from 5.25% to 4.75% in September to help rejuvenate confidence in the world's largest economy.
This followed a summer of turmoil in the world's credit markets, sparked by record loan defaults in the US sub-prime mortgage sector.
Since then, a raft of mostly disappointing economic news and soft inflation figures has prompted the anticipation of further rate cuts.
|
|
|
|
|
|
|
|
ADVERTISEMENTS
Free offer!!! Become an administrator for your zip home page, "Post" local news (local to your postcode)& pictures, "Post" advertisement banners from local companies. Make Extra money.
|
 |
 |
|
|
| |
|
