(Bloomberg) -- The dollar rose from a record low
against the euro and the weakest in 26 years versus the pound as
a government report showed U.S. consumer prices rose last month
by more than analysts forecast, while housing starts increased.
Traders bought dollars as the report may feed speculation
the Federal Reserve will refrain from reducing its 5.25 percent
benchmark interest rate this year. The dollar slumped earlier as
losses on Bear Stearns Cos. hedge funds dimmed the allure of
U.S. assets.
Read more at Bloomberg Currencies News
against the euro and the weakest in 26 years versus the pound as
a government report showed U.S. consumer prices rose last month
by more than analysts forecast, while housing starts increased.
Traders bought dollars as the report may feed speculation
the Federal Reserve will refrain from reducing its 5.25 percent
benchmark interest rate this year. The dollar slumped earlier as
losses on Bear Stearns Cos. hedge funds dimmed the allure of
U.S. assets.
Read more at Bloomberg Currencies News
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