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Anorak | Dollar At All Time Low

Dollar At All Time Low

by | 18th, July 2007

BECKHAM should have got paid in pounds :

July 18 (Bloomberg) The dollar fell to a record low against the euro and dropped versus the yen after Bear Stearns Cos. reported hedge fund losses, fueling speculation investors will spurn U.S. assets as the economy slows.

The yen also rose against the euro, British pound and New Zealand dollar as investors scaled back carry trades, where they buy higher-yielding securities with money borrowed in Japan. Financial industry losses caused by subprime mortgage defaults may be addressed by Federal Reserve Chairman Ben S. Bernanke when he testifies to Congress today.

“The subprime woes may weigh on the

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Posted: 18th, July 2007 | In: News Comment (1) | Follow the Comments on our RSS feed: RSS 2.0 | TrackBack | Permalink