Dollar Falls After Manufacturing, Confidence Indexes Decline
The dollar fell the most in a month versus the euro and was lower against more than a dozen other currencies on speculation the Federal Reserve may soon stop raising interest rates.
The U.S. currency weakened as reports today showed consumer confidence fell to a three-month low, manufacturing in the Chicago area dropped and new home sales were lower. The dollar's decline versus the euro comes two days before the European Central Bank is expected to lift its benchmark lending rate for the second time in three months, to 2.5 percent.
( Full story here )
The U.S. currency weakened as reports today showed consumer confidence fell to a three-month low, manufacturing in the Chicago area dropped and new home sales were lower. The dollar's decline versus the euro comes two days before the European Central Bank is expected to lift its benchmark lending rate for the second time in three months, to 2.5 percent.
( Full story here )
posted by Oil Shock at 2/28/2006 07:23:00 PM
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