The dollar remains under pressure against all major currencies on fears that the Federal Reserve may need to slash interest rates further to stop the downward spiral in the credit markets.
The greenback was at 100.57 against the yen after breaking below 100 yesterday in a day of wild trading, that set off alarm bells at Japan's Keidanren industry lobby.
It touched a record low of $1.5651 against the euro and came within a whisker of parity with the Swiss franc for the first time in history.
It rebounded somewhat in London today and was trading at $1.5582 by mid morning.
Read Complete Story
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment