The Conservative Cave
Current Events => Economics => Topic started by: bijou on February 27, 2008, 09:39:36 AM
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BERLIN, Germany (AP) -- The dollar sank to new lows in Europe Wednesday following a series of dour reports on the U.S. economy and expectations that the Federal Reserve will continue slashing interest rates.
The 15-nation currency hit a series of highs, culminating at $1.5087 before falling back slightly to $1.5059 in afternoon trading, from the $1.4967 it bought in late trading in New York on Tuesday.
In other trading, the British pound soared to $1.9971 before falling back to $1.9897, up from $1.9862 late Tuesday, while the dollar fell to 106.07 Japanese yen from 107.26 yen.
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http://edition.cnn.com/2008/BUSINESS/02/27/us.dollar.ap/index.html