Filed under: International markets, Federal Reserve

The dollar fell to a three-year low against Japan’s yen after traders calculated that the U.S. Federal Reserve is likely to continue to lower interest rates to stimulate the slow growth / extremely sluggish U.S. economy, Bloomberg News reported Friday.

The dollar fell about one yen to 103.86 yen, before recovering slightly to 104.17 yen Friday at mid-day.

The dollar also fell against the world’s other major currencies, falling about one-fifth of a cent to $1.5187 against the euro and about one-quarter of a cent to $1.9867 against the British pound.

Continue reading The Fed signals additional rate cuts, and the dollar’s decline continues

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This entry was posted on Friday, February 29th, 2008 at 6:48 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.