Tuesday, October 03, 2006

Dollar fares poorer against other major currencies


How unfortunate that the dollar went down against the other major world currencies on the speculation that the Bank of England and the European Central Bank may change the interest rates. Even though these major banks have not explicitly announced of any such plans, but most economists think otherwise before the end of 2006.The ECB may increase rates after the strong and positive report received on the manufacturing front as opposed to the US Manufacturing slowdown.

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