(Bloomberg) -- The dollar may weaken 5 percent to
116 yen by year-end on speculation a housing slump will curb
consumption, increasing pressure on the Federal Reserve to lower
interest rates, said Daiwa Institute of Research in Tokyo.
Signs of a weakening economy may prompt traders to place
more bets the Fed will cut rates. The U.S. currency fell to a
record low against the euro yesterday after the Standard & Poor's
500 Index a day earlier posted its worst decline in a month on
concern mortgage losses will worsen a housing slowdown.
Read more at Bloomberg Currencies News
116 yen by year-end on speculation a housing slump will curb
consumption, increasing pressure on the Federal Reserve to lower
interest rates, said Daiwa Institute of Research in Tokyo.
Signs of a weakening economy may prompt traders to place
more bets the Fed will cut rates. The U.S. currency fell to a
record low against the euro yesterday after the Standard & Poor's
500 Index a day earlier posted its worst decline in a month on
concern mortgage losses will worsen a housing slowdown.
Read more at Bloomberg Currencies News
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