INDUSTRY NEWS
Home Price News Fears Weaken the U.S. Dollar
May 27, 2008
Source:Bloomberg
London--The dollar dropped to a one-month low against the euro as the market awaited reports expected to show home prices and consumer confidence were falling, Bloomberg reported Tuesday.
The dollar declined from $1.5770 late Monday to $1.5818 against the euro in London--the lowest point since April 24.
The dollar also weakened against the Swiss franc and British pound when traders reduced speculation that the Federal Reserve--which has offered seven rate cuts since September--would raise interest rates in 2008.
|
|
|
