Featured Stories World News Commentary Money Watch Multimedia Prison Planet U.S. News Science And Technology

Dollar Touches 14-Month Low on Outlook for Fed’s Target Rate

  • Print The Alex Jones Channel Alex Jones Show podcast Prison Planet TV Infowars.com Twitter Alex Jones' Facebook Infowars store

Ye Xie
Bloomberg
Saturday, Oct 17th, 2009

The dollar dropped the most against the euro in more than a month and reached a 14-month low on speculation the Federal Reserve will trail other central banks in boosting interest rates.

Sterling rose against all of its major rivals this week on signs the Bank of England may suspend quantitative easing, reducing concern it’s flooding the market with new currency. The dollar slid as minutes of the Fed’s September meeting showed some policy makers were open to boosting purchases of mortgage- backed securities. The greenback may extend its decline when the central bank releases its Beige Book business survey next week.

“There’s no good news for the dollar,” said Dale Thomas, head of currencies in London at Insight Investment Management, which oversees about $121 billion. “The underlying trend is still for a gradual recovery of the global economy and a weak dollar.” The dollar will remain a “funding currency” for investors to buy higher-yielding assets as U.S. borrowing costs stay low, Thomas said.

The dollar fell 1.2 percent this week to $1.4905 per euro, from $1.4732 on Oct. 9, in the biggest drop since a 1.9 percent decline during the week ended Sept. 11. The U.S. currency touched $1.4968 on Oct. 15, the weakest level since Aug. 13, 2008. The yen declined 1.2 percent to 90.89 versus the dollar, from 89.78, in its biggest decline since Aug. 7. Japan’s currency depreciated 2.3 percent to 135.48 per euro, compared with 132.25 a week earlier.

Full article here

Dollar Touches 14 Month Low on Outlook for Fed’s Target Rate  260909banner

This article was posted: Saturday, October 17, 2009 at 4:19 am





Infowars.com Videos:

Comment on this article

Comments are closed.

Watch the News

FEATURED VIDEOS
Rick Perry's Border Solution is A Bait and Switch See the rest on the Alex Jones YouTube channel.

The UN Treaty That Created Violent Drug Gang Culture Revealed See the rest on the Alex Jones YouTube channel.

© 2013 PrisonPlanet.com is a Free Speech Systems, LLC company. All rights reserved. Digital Millennium Copyright Act Notice.