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| | From: Traderjfo (Original Message) | Sent: 7/7/2004 6:14 PM |
Fed's dollar index falls after four months of gains | --12:54pm - By Rachel Koning | CHICAGO (CBS.MW) -- A Federal Reserve index that measures the trade-weighted value of the U.S. dollar against the world's major currencies fell in June after four consecutive monthly gains, according to the Atlanta branch of the nation's central bank. The index fell 1.2 percent in June. The dollar had gained this spring since hitting multiyear lows in February, but has since come under renewed selling pressure. Currency traders are paring their expectations for aggressive Federal Reserve interest-rate hikes. Higher Fed rates would presumably close more quickly the yield differential offered on dollar-based investments compared to other industrial nations with higher interest rates. The index's overall decline was paced by a 1.5 percent drop in a subindex that measures the dollar's trade relationship with European currencies. The Atlanta Fed's dollar index for June was 1.6 percent lower than its year-ago level.
| sleater, you're saying they can't or won't normalize interest rates. inflation is in the pipeline... they can't stop it... they're so worried about wording because they don't want to freak people out... they are going to raise interest rates aggressively... the tapped out... borrowed out american consumer is flucked if they don't get the dollar up and keep inflation under control which is already, as far as i'm concerned, outa control. we'll see the real impact of the fuel costs within the next six months, but it hurting everything from eggs to computers.. those are profit's you're talking about... jfo |
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