The dollar hovered near record lows on Wednesday as unexpectedly weak data showed orders for long lasting U.S.-made goods fell the most in five months, cementing expectations for further U.S. interest rate cuts.
The dollar slid to an all-time low versus a basket of currencies earlier in the global session as investors grew more convinced the the Federal Reserve will cut rates yet again.
U.S. durable good orders fell 5.3 percent in January, compared with the 4 percent forecast from economists polled by Reuters.
2 comments:
This is just another depressing statement. Pretty soon we will have the worst economy in the world.
One would really think that the U.S. dollar would be worth substancially more then currencies in other countries.
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