FOMC Cuts, Outlook Unclear |
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4/30/2008 3:20 PM: EUR/$..1.5616 $/JPY..103.90 GBP/$..1.9880 $/CHF..1.0359 AUD/$..0.9446 $/CAD..1.0058 FOMC Cuts, Outlook Unclear The dollar was mixed following the FOMC’s announcement to cut rates by 25-basis points to 2.0%. The Fed reiterated that economic activity remains weak, while “household and business spending has been subdued and labor markets have softened further”. The Fed expects lingering tight credit conditions and the “deepening housing contraction” to weigh on growth over the
Filed under: Fundamental
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