Barbara
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Dollar, Yen Fall as Rate Cuts - 2008/10/30 19:42
Hi guys! Since tonight is Halloween, let's hope markets don't get too scary 
The dollar and the yen fell as a wave of global interest-rate cuts sparked a rally in stocks, boosting demand for higher-yielding assets.
The greenback slid for a third day against the euro after the Federal Reserve reduced its target lending rate to 1 percent and agreed to provide $120 billion to the central banks of Brazil, Mexico, South Korea and Singapore. The yen dropped to a one-week low versus the European currency on speculation the Bank of Japan will lower borrowing costs when it meets tomorrow.
The dollar fell to $1.3292 per euro, the lowest since Oct. 21, and traded at $1.3086 as of 11:33 a.m. in London from $1.2963 yesterday. The yen weakened to 98.58 per dollar from 97.39. The euro gained to 129.01 yen from 126.26 yen.
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