Thursday, Oct 18, 2007
It's a race to the bottom!!
Bloomberg: Dollar Falls to Record Low Against Euro on Growth, Fed Outlook
The dollar fell to a record low against the euro after profit at the second-largest U.S. bank fell more than forecast because of trading losses, raising speculation the Federal Reserve will cut borrowing costs again. ``The dollar should be weaker,'' said Samarjit Shankar, director of global strategy for the Global Markets group in Boston at Bank of New York Mellon, the world's largest custodian bank with more than $20 trillion in assets under administration. ``There will be some more pain coming from'' the housing sector.
Posted by dr. k @ 04:04 PM (233 views) Add Comment
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