Dollar Trades Near Record Low Versus Euro on Fed Rate Cut Bets: Lukanyo Mnyanda and Ron Harui
The dollar traded near a record low against the euro after Federal Reserve officials signaled the need for interest-rate cuts, eroding demand for dollar- denominated assets. The U.S. currency fell for a fifth day, its longest slide in three months. Fed Governor Frederic Mishkin and Fed Bank of San Francisco President Janet Yellen said yesterday credit-market losses may slow growth, while a government report last week showed the economy unexpectedly lost jobs in August.
No comments:
Post a Comment