Monday, August 6, 2007
The dollar fell to a 15-year low against a basket of currencies on Monday, as speculation mounted in financial markets that increasing credit market risk and softening U.S. data will force a cut in U.S. interest rates.The deepening malaise in global credit markets sent U.S. stocks hurtling lesser on Friday, a move encouraged by a weaker-than-expected U.S. July employment report.
At 0720 GMT, the dollar index was downward 0.1 percent at 80.03, having earlier traded as low as 79.957, according to Reuters data.The dollar pared some of its losses against the yen to stand 0.3 percent lower on the day at 117.60 yen, having hit a earlier four-month short around 117.20 yen.
At 0720 GMT, the dollar index was downward 0.1 percent at 80.03, having earlier traded as low as 79.957, according to Reuters data.The dollar pared some of its losses against the yen to stand 0.3 percent lower on the day at 117.60 yen
posted by stifxonline
@ 1:24 AM
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