Hi, we've made some changes

FX round-up: Dollar broadly lower

News for Spread Betters

PreviousPrevious
NextNext

There's a new Investor Edition of CMC Markets' spread betting platform... and it's exclusive to DigitalLook.com users...

Get full details about Marketmaker:Investor Edition here. Advertisement

Date: Thursday 10 Apr 2008

LONDON (ShareCast) - The dollar continued to fall against the yen and the euro on Wednesday as markets suffered a broad sell-off.

There was also caution ahead of the European Central Bank and Bank of England's interest rate decisions on Thursday.

The ECB is expected to leave its main interest rate unchanged at 4% while the BoE is expected to cut its base rate by a quarter percentage point to 5%.

Concern about the outlook of the US economy also plagued sentiment. Federal Reserve minutes earlier in the week showed concern about a protracted and severe economic downturn.

Soaring oil prices also weighed on the dollar, with intra day prices reaching a new all time high of $112 a barrel.

A decline on Wall Street and persistent concern about the credit markets also pressured the dollar.

Sterling fell against the euro on concern about a slowdown and expectations of a BoE rate cut.

Digital Look have been voted
"Best Research and Information Provider"

4th Floor, Bankside House, 107 Leadenhall Street, London EC3A 4AF.
Registered in England and Wales (registered no. 3678570).