Euro breaks $1.5200 |
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Euro dollar hit a record high over $1.52 as Fed Chairman Bernanke indicated the central bank is still prepared to cut interest rates which are already at a three year low. He also went to say some smaller banks may not recover from the credit crisis and unemployment to increase. “This is the Bernanke shock, causing much faster dollar depreciation than expected,” said Michiyoshi Kato, a senior vice president of currency sales in Tokyo at Mizuho Corporate Bank Ltd., a unit of Japan’s
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