Federal Reserve cut adds to euro woes
MARKET NEWS
The euro fell to a two-week low towards the end of last week as US dollar sentiment got a boost from Wednesday’s Federal Reserve interest rate decision, writes Matthew Clements, economist at Prebon Yamane in London
European Central Bank (ECB) president Wim Duisenberg’s view that the euro may have "bottomed" now looks prematurely optimistic, despite the currency enjoying a steady appreciation throughout most of June.
The Federal Open Market Committee’s decision to cut the Fed funds rate by 25bp
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