Wednesday, January 04, 2006

Dollar slips

Dollar Falls on Speculation Fed Closer to Halting Rate Policy

The dollar had the biggest two-day drop against the euro in five years after the Federal Reserve suggested it is closer to halting its interest-rate increases.

A shift in Fed policy may prevent a further widening of the yield advantage on U.S. assets that pushed the dollar up more than 14 percent against the euro and yen in 2005. A European Union report today showed inflation exceeded the European Central Bank's target for an 11th consecutive month.

``There's a dollar-bearishness out there right now,'' said Peter Lorraine, a managing director of foreign-exchange trading at Brown Brothers Harriman & Co. in New York. ``Once the Fed says they're getting near the end, the dollar is falling.''


Heh. No kidding, Pete?

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