 Forex - Central Banks are ready to cut rates |
 Oct 8 2008, 1:00
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The Dollar fell on Tuesday as steps by the Federal Reserve to calm chaotic financial markets and a signal by Chairman Ben Bernanke that the central bank was ready to cut rates eroded some of its safe-haven bid.
Also, ECB chief Jean-Claude Trichet last week signaled the central bank was ready to start cutting rates. Analysts said the Dollar still remained a safe-haven, but cautioned that it could fall further against the Euro as its recent rally was seen as slightly overdone. They added that the ongoing credit crisis has started to impact the currency. View the full article |
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