Chris
fortruthandfreedom
peacefrog
US Dollar Falls to 26-Year Low vs. British Pound
Posted on October 30, 2007 by Chris
The dollar fell to a new 26 year low against the British Pound. Amidst the continued selling is speculation that another quarter point Fed rate cut would encourage investors to exchange dollars for pounds to benefit from higher return rates. The Fed decision about rate cuts is expected tomorrow.
The Canadian “loonie” is also set to reach a 130-year high against the dollar. The Canadian dollar reached a 47-year high on Monday and is now just over a penny away from climbing to late 1800s levels.
Today’s Chart: USD vs. GBP
Filed under: US Dollar—Economy | Tagged: US Dollar, economy, British Pound, interest rate cut, fed, 4.75%, recession
