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Thursday, September 13, 2007
Dollar Falls
Dollar Falls to 15-Year Low Against Euro
The U.S. dollar dropped to a 15-year low against the euro today amid speculation that continuing signs of slowing U.S. economic growth will prompt the Federal Reserve to lower interest rates on Sept. 18, “reducing the appeal of assets denominated in the U.S. currency,” observed Bloomberg.
The latest fall caps what may be the dollar’s longest losing streak since October 2004, the news source offered.“We’re still in a weak dollar environment. Concerns about the U.S. economy have intensified, and that’s played negatively for the dollar,” a currency strategy expert in London told Bloomberg.
from MoneyNews.com
Please pray for us as we minister here in Wittenberg, Germany.
Paul and Chelli Sudbrock