Global Time   New York 1:23 am  London 6:23 am  Zurich 7:23 am  Dubai 9:23 am  Shanghai 1:23 pm  Tokyo 2:23 pm  
Global Interest Rates
Australia 7.25%
Canada 3.5%
EMU 4%
Japan 0.5%
Swiss 2.75%
England 5%
US 2.25%
Forex News
Subscribe Now
Advertisements

Dollar Slips after Bernanke Warning on Foreclosures

Font Scale:
06 May 2008 @ 12:35 am EST
  • Print
  • E-Mail

The dollar fell on Tuesday after Federal Reserve Chairman Bern Bernanke said home prices may continue to fall as foreclosures increase.

The dollar dropped to $1.5523 per euro at 1:25 p.m. in Tokyo, compared with $1.5496 late Monday. The U.S. currency was down to 104.76 yen from 104.85 yen. The euro traded at 162.63 yen from 162.46.

In a speech in New York, Bernanke said additional foreclosures may hurt the broader economy, threatening the financial system. He urged the government and mortgage companies to boost their efforts to reduce foreclosures.

Bernanke did not comment on monetary policy. Recently, the Fed lowered its benchmark interest rate by a quarter percentage point to 2 percent. However a statement issued after the cut was open ended, leaving room for additional cuts or a pause.

More Dollar
More News
Currencies
arr_blue
07/25/2008
Last
Change
%change
Time
advertisement

greets

i greet everyone. My name is fxjo. i am new to this community and i pray we benefit from each other. Thanks. fxjo

Gandycookie's signals

In this topic we are going to review the financial forecast on forex market. gandycookie

new here

hi guys im new here, hope to learn trading,shares and stocks from you guys.....:) zero_digit

Advertisement
Latest Forex Research Reports

Find the most up to date research from leading investment firms to make the most informed investing decisions

 
IBTimes.com Web
Partners
International Business Times© 2008 The Ibtimes Company. All Rights Reserved. Terms of service | Privacy Policy | Advertising | About Us | Contact Us | Archives