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Dollar falls for fifth straight day
- Tuesday, March 18 - 2008 at 11:24
The dollar dipped for a fifth day in a row on Monday against the euro and the yen on speculation the US Federal Reserve will cut its benchmark interest rate at least 1 percentage point today to reduce the risk of bank failures, reported Bloomberg. The dollar dropped to $1.5771 per euro at 6:28 a.m. in London today, after reaching $1.5903 yesterday, the weakest level since the euro started trading in 1999. The U.S. currency fell to 97.18 yen from 97.33 late yesterday, when it touched 95.76 yen, the lowest since Aug. 15, 1995.
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Jeff Florian, Senior ReporterTuesday, March 18 - 2008 at 11:24 UAE local time (GMT+4)
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