|
|
Dollar extends loss as U.S. stocks tumble |
 |
+ |
- |
08:38, June 27, 2008 |
The dollar fell against most major currencies on Thursday, extending losses of the previous session as Wall Street plunged.
The dollar continued losing grounds after the U.S. Federal Reserve failed to give a strong signal that it would raise interest rates later this year in its statement released on Wednesday.
The greenback was also hit by bad economic news and oil prices at new record high on Thursday. Analysts gave negative comments on General Motors and Citigroup, sent shares of the two large U.S. companies to their lowest level in years.
Oil futures rose above 140 dollars a barrel after the OPEC president said crude prices could rise well above 150 dollars a barrel this year and Libya said it might cut oil production.
The euro bought 1.5760 dollars in late New York trading compared with 1.5667 dollars it bought late Wednesday. The British pound rose to 1.9877 dollars from 1.9727 dollars.
The dollar fell to 1.0232 Swiss francs from 1.0362 Swiss francs, and fell to 106.66 Japanese yen from 107.93 Japanese yen. It rose to 1.0118 Canadian dollars from 1.0095 Canadian dollars.
Source: Xinhua
|
|
|
Comment
Tell A Friend
Print Format
Save Article