Dollar Near New Low Against Euro |
| Wall Street Journal - Mar 12, 2008 |
The dollar is back to its weak ways early Wednesday, trading near an all-time low versus the euro as Tuesday's dollar rally, after a new Federal Reserve liquidity plan, ended in a hurry.
Putting pressure on the dollar is a strong report on euro-zone industrial production, which reminds investors that regardless of what the Fed does to unfreeze credit markets, the U.S. economy is still lagging the euro zone.
Industrial output across the euro zone rose 0.9% on the month in January and 3.8% on the year, well ahead of economists' forecasts of a 0.4% rise on the month and a 2.6% rise over the year.
That pushed the euro to an intra-day high of $1.5492 just as the New York session began, a fraction away from its $1.5496 lifetime high reached Tuesday.
Read Full Article from Wall Street Journal
- Posted: 2008-03-12 10:14:20
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