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Day: October 30, 2008
October 302008
Dollar Falls on Rate Cut, GDP Contraction
EUR/USD continued to rise today and showed a third day of gain on the Forex market, as the dollar fell after the yesterdays rate cut decision. Federal Reserve reduced the funds rate from 1.5% to 1%. Another reason for the dollars decline were the macroeconomic indicators released in U.S. EUR/USD is currently trading near 1.3035 after reaching 1.3288 today. The advance report for the third quarter 2008 GDP […]
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October 302008
Australian Dollar Rises for the Third Day
The Australian dollar rose against the U.S. dollar and the Japanese yen for the third day today after the rate cut in U.S. and a moderate decline in the global risk-aversion. The Aussie gained against the U.S. dollar after the Federal Reserve reduced the interest rate by 50 basis points to 1 percent. Chinas central bank cut the one-year lending rate from 6.93 percent […]
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