Dollar Drops in Afternoon Trading in Asia
Investors are speculating that the U.S. Federal Reserve will cut interest rates soon, and as a result, the U.S. Dollar dropped against the Yen and the Euro during afternoon trading in
Since the European Central Bank intends not to cut interest rates in order to curb inflation in the Euro Zone, the U.S. dollar will continue to be less attractive compared to the Euro. On
In an attempt to ease the liquidity crisis the Federal Reserve has reduced interest rates by a total of 300 basis points compared to the European Central Bank, which has kept interest rates steady since June.