 Forex - Dollar slipped after G8 failed to comment currencies markets |
 Jun 16 2008, 1:00
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The Dollar slipped in early trade on Monday on disappointment that finance ministers from the Group of Eight (G8) countries failed to address the weakness of the US currency at a meeting over the weekend in Japan.
Many traders had expected ministers to discuss currencies after a series of comments linking a weak Dollar and rising Oil prices, but most appeared more worried about slowing growth in economies hit by a credit crisis. French Economy Minister Christine Lagarde said Dollar weakness and commodity price inflation were inextricably linked. Paulson said on Saturday he disagreed, and stuck only to his oft repeated line that the United States supported a Strong Dollar. Last Friday, the Dollar jumped against the Euro on Friday and notched up its best week against a basket of currencies since 2005 as mounting inflation fears had investors bracing for Federal Reserve interest rate hikes this year. View the full article |
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