US DOLLAR AGAINST THE EURO

May 26, 2008 by Buzz Admin  
Filed under Business

The dollar exchange rate is closer to the beginning of the week dealings in foreign exchange markets in East Asia from its lowest level against the euro since a month and in light of expectations that outweigh the continuation of the crisis of recent mortgage on the housing sector in the United States.

Analysts think that the American currency would remain under the weight of pressure decline, as a result of the retreat of the rates of growth of U.S. economy, and that any new indicators of weakness in economic performance will be the Federal Reserve Bank for further reductions in interest rates.

The network “Blomberj” news that the U.S. currency has been registered against the euro in late dealings in Tokyo markets 1.5766 dollars, compared to closing at the end of the week in New York, which hit 1.5762 dollars, close to the lowest since a month and recorded in the May 22, when the current hit $ 1.5814 .

The dollar also fell to its counterpart the Canadian and approached the lowest levels against the Australian dollar 25 years ago and in light of rises in oil prices and the yellow metal, which contributed to the improved outlook on the expected performance of companies operating in the field of export of primary commodities.

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