Fed policy weighs on dollar
By Peter Garnham
FT.com
Published: May 4 2011 12:00 | Last updated: May 4 2011 22:32
The dollar dropped to a 17-month low against the euro as the prospect that the Federal Reserve would stick to its ultra-loose monetary policy weighed on the US currency.
The dollar lost ground as figures showed weaker-than-expected US private sector employment in April, which raised expectations that Friday’s US employment report would also disappoint. A survey also showed that activity in the US services sector slowed markedly last month....
Full article:
http://www.ft.com/cms/s/0/916e37f2-762d-11e0-b4f7-00144feabdc0.html
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