Bad US Economy Knocks Dollar Down
The US dollar fell today as the poor macroeconomic reports confirmed the slowdown of the US economy, making an end of the quantitative easing in the near future highly improbable.
The seasonally adjusted S&P/
Analysts predict more bad new this week. The
EUR/USD rose to 1.4421 from 1.4395 today as of 4:17 GMT. GBP/USD advanced to 1.6468 from 1.6445 and USD/JPY fell to 81.23 from 81.50.
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Earlier News About the US Dollar:
- Hard Week for Dollar as US Economy Stalls (2011-05-28)
- Dollar Slumps on Personal Spending & Pending Home Sales (2011-05-27)
- US Dollar Falls on GDP & Rising Unemployment Claims (2011-05-27)
- European Crisis Deepens, Stocks Suffer, Dollar Jumps (2011-05-24)
- US Dollar Posts Weekly Losses as Economy Looks Bad (2011-05-21)