Economic Report: U.S. Dollar Is World Currency 98- lb Weakling - 02/28/08
28th February 2008
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Recession fears continue to drive down the value of the American dollar. On Tuesday, for the first time in history, the value of the Euro passed the $1.50 mark. Negative economic news coming out of the United States continues to make investors fearful of the dollar. Investors try to hold currencies that are tied to rising inflation rates, but the U.S. Federal Reserve has been cutting the US interest rates. The Euro broke a record previously set on November 23, 2007.