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Posts Tagged ‘ Financial Developments ’

Dollar Sinks Against Euro, Fed Rate Cut Fails to Support Buck

Oct 30th, 2008 | By Doug Casey | Category: Financial News

In the currency market, the dollar dropped lower against the euro. Late Wednesday, the euro was trading at $1.2883 vs. $1.2707 on Tuesday. The news of the day, which brought the dollar back from its lows vs. the euro, was the FOMC’s interest rate cut of a half-point, down to 1%.

Tags: commodities, Currency Market, dollar, Doug Casey, euro, Fed Rate, Financial Developments, Fomc, forex, Global Recession, Market Turmoil, US dollar
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