Filed under: Before the bell, Major movement, International markets, Consumer experience, Money and Finance Today, Japan, Economic data, Eastern Europe, Federal Reserve

The dollar has once again set a new record low against the euro today, with the euro moving as high as $1.4966 earlier in the day. In Asia, the dollar also fell sharply, falling to below 108 yen, marking a two and a half year low against the yen.

The dollar has definitely been in trouble lately. The current slide really gained steam back in August as the market started to realize the effect the subprime mortgage crisis was going to to have on the economy. The dollar has been in a literal free fall ever since.

The dollar is not only reacting to the mortgage concerns, but recent interest rate cuts by the Federal Reserve are also adding to the dollar’s weakness. So far this year, the Fed has already cut rates twice, and as Wall Street continues to gauge the impact of the mortgage crisis on the overall economy, analysts now expect to see at least one more rate cut in the near future.

Continue reading The dollar continues its fall

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This entry was posted on Friday, November 23rd, 2007 at 3:51 pm and is filed under Stocks Money News. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.