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danierusan111
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Dollar Heads for Weekly Decline Against Euro - 2008/02/01 19:13 Hi everyone!

The dollar fell, headed for its biggest weekly decline in a month against the euro, as traders bet the Federal Reserve will cut interest rates again to avert a recession.

The dollar dropped versus 15 of the 16 most-traded currencies this week, falling the most against the Australian and New Zealand dollars. Growth in U.S. payrolls probably accelerated in January from the weakest pace in more than four years, while staying at a level that indicates a softening job market, economists said before a government report today.

The U.S. currency, known as the greenback, was at $1.4886 per euro by 6:52 a.m. in New York, from $1.4681 on Jan. 25, losing 1.4 percent this week. It reached $1.4967 per euro on Nov. 23, the weakest since the European currency's inception in January 1999. Kotecha predicts the U.S. currency will climb to $1.45 by March and then to $1.40 by June.

Against the yen, the dollar traded at 106.46, falling 0.3 percent this week. The euro rose 1.1 percent to 158.46 yen.

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Dollar Heads for Weekly Decline Against Euro

danierusan111

2008/02/01 19:13