(Bloomberg) -- The dollar dropped to a 26-year low
versus the British pound and approached the weakest level against
the euro on speculation the Federal Reserve will keep borrowing
costs unchanged while other central banks extend their increases.
Investors sold the U.S. currency amid concern losses in the
subprime mortgage sector may weaken the housing market and spill
over into the broader economy, dimming the allure of U.S. assets.
The Bank of England is forecast to boost interest rates while the
European Central Bank may signal increases this week.
Read more at Bloomberg Currencies News
versus the British pound and approached the weakest level against
the euro on speculation the Federal Reserve will keep borrowing
costs unchanged while other central banks extend their increases.
Investors sold the U.S. currency amid concern losses in the
subprime mortgage sector may weaken the housing market and spill
over into the broader economy, dimming the allure of U.S. assets.
The Bank of England is forecast to boost interest rates while the
European Central Bank may signal increases this week.
Read more at Bloomberg Currencies News
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