Federal Reserve cut interest rates by 0.75%

March 18, 2008 at 10:12 pm | Posted in economy, economy USA, USA | Leave a comment
Tags: ,

NEW YORK (CNNMoney.com) — The U.S. dollar moved higher against several major currencies Tuesday after the Federal Reserve cut interest rates by three quarters of a percentage point – a less aggressive move than some investors were hoping for.

The 15-nation euro traded at $1.5715, down from $1.5731 late Monday. But prior to the Fed’s decision to cut interest rates, the euro was trading $1.5792.

The dollar also moved higher against the British pound but eased further against the yen.

The greenback has moved sharply lower in recent weeks against a number of foreign currencies on expectations that the Fed will keep cutting interest rates to keep the U.S. economy from entering a recession.

Advertisements

Leave a Comment »

RSS feed for comments on this post. TrackBack URI

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

Create a free website or blog at WordPress.com.
Entries and comments feeds.

%d bloggers like this: