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Day: May 29, 2008
May 292008
EUR/USD Continues to Fall on U.S. GDP Report
EUR/USD made its biggest drop since May 7 today. The popular currency pair continued its decline that has started on Tuesday and will probably last until it reaches 1.5300-1.5400 levels. EUR/USD went down from 1.5647 to 1.5533. Preliminary GDP for the first quarter of 2008 increased 0.9% the same pace as the market analysts predicted and slightly faster than 0.6% growth in Q4 2007. Initial jobless […]
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May 292008
Dollar Sees a Third Day of Growth
The U.S. dollar rose today to highest against the euro since May 20 as the Federal Reserve Bank of Dallas President Richard Fisher said that the interest rate increase is possible on elevated inflation fears. The U. S. currency also continued to rise against the Japanese yen today, as the latter has been falling against the other major currencies on carry trade uprise. The dollar […]
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