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Tuesday, October 30, 2007
The U.S.Dollar fell to an all time low against the Euro after data from the U.S. heightened concerns regarding an economic recession.
The U.S. currency traded at 1.444 versus the Euro and reached a 26-year low against the British Pound. An index that measures US consumer confidence fell in October to 95,6 points while in August U.S. home prices declined 4,4%, the biggest fall of the past six years. The data bolsters speculation that the Federal Reserve may cut interest rates in the next meeting. The U.S. central bank is set to decide on interest rates on the 31st of October and economists expect a 25 basis point cut to 4,50%
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This page is archived, and is no longer publicly editable.
Articles presented on Wikinews reflect the specific time at which they were written and published, and do not attempt to encompass events or knowledge which occur or become known after their publication.
Please note that due to our archival policy, we will not alter or update the content of articles that are archived, but will only accept requests to make grammatical and formatting corrections.
Note that some listed sources or external links may no longer be available online due to age.
