Is there confidence that the weakening economy and the Dollar’s decline will be reversed?
*Reuters, by Atul Prakash, February 15, 2008
“Dollar down as consumer sentiment slides
The dollar fell against the euro on Friday after a gauge of consumer sentiment plunged to its lowest level since 1992, adding to fears that the U.S. economy may be slouching toward recession.
The euro pushed above $1.47 for the first time in nearly two weeks to trade at $1.4709, up half a percent from late Thursday, before easing to $1.4692. It traded around $1.4685 just before the Reuters/University of Michigan consumer sentiment data was released.
The dollar was also down half a percent against the yen at 107.40 yen, with most of those losses coming after the New York Federal Reserve’s February manufacturing index posted its biggest monthly decline on record.”
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