Dollar weakens

11.24.2007 - cheap-holidays

The dollar was weakened against the major currencies yesterday after growth forecasts were published.

Last month’s Federal Open Market Committee (FOMC) meeting minutes revealed predictions of an even slower economy than once thought for 2008.

Despite gaining ground against the yen, the information weighed heavy on the dollar, weakening it versus the major currencies, especially so against the euro.

The European currency was strong at $1.4841 against the dollar yesterday, rising even further at one point to reach its highest level since 1999.

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