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| Version 3 | Version 4 |
|---|---|
| Dollar stays near record euro low | Dollar stays near record euro low |
| (about 3 hours later) | |
| The US dollar hovered near record lows against the euro by close of trade in New York on Friday, as expectations over a US interest rate cut increased. | The US dollar hovered near record lows against the euro by close of trade in New York on Friday, as expectations over a US interest rate cut increased. |
| One euro was worth $1.4265 by mid-afternoon in the US, after the greenback sank just short of $1.4320. | |
| Analysts said a rise in US unemployment adds to chances of an interest rate cut when The Federal Reserve meets in October, in a bid to boost the economy. | Analysts said a rise in US unemployment adds to chances of an interest rate cut when The Federal Reserve meets in October, in a bid to boost the economy. |
| Against Japan's yen, the dollar stayed near three-week lows, at 114.77 yen. | Against Japan's yen, the dollar stayed near three-week lows, at 114.77 yen. |
| Rejuvenate confidence | Rejuvenate confidence |
| Commentators now say the Fed could well reduce rates from 4.75% to 4.5%. | Commentators now say the Fed could well reduce rates from 4.75% to 4.5%. |
| The dollar has been sliding since the Federal Reserve cut rates from 5.25% to 4.75% in September to help rejuvenate confidence in the world's largest economy. | The dollar has been sliding since the Federal Reserve cut rates from 5.25% to 4.75% in September to help rejuvenate confidence in the world's largest economy. |
| This followed a summer of turmoil in the world's credit markets, sparked by record loan defaults in the US sub-prime mortgage sector. | This followed a summer of turmoil in the world's credit markets, sparked by record loan defaults in the US sub-prime mortgage sector. |
| Since then, a raft of mostly disappointing economic news and soft inflation figures has prompted the anticipation of further rate cuts. | Since then, a raft of mostly disappointing economic news and soft inflation figures has prompted the anticipation of further rate cuts. |
| While lowering borrowing costs can jump start the economy, it can also have an adverse impact as investors seek to place money in economies where the returns are higher. | While lowering borrowing costs can jump start the economy, it can also have an adverse impact as investors seek to place money in economies where the returns are higher. |