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Dollar Tumbles To Multi-month Lows Against Euro, Franc And Yen 76 days ago
(RTTNews) - Extending its previous sessions' downtrend, the US dollar staged a steep slide against its major counterparts in early trading on Wednesday as traders continued to mull that the FOMC revised its growth rate expectations for the next two years and look for more clues from a slew of economic data including weekly jobless claims.
Around 6:40 am ET, the dollar plunged to near 1.51 against the euro for the first time since August 8, 2008 and this may be compared to yesterday's close of 1.497. The dollar reached below parity against the Swiss franc for the first time since April 17, 2008. The dollar that dropped to 0.9997 against the franc is currently quoted at 1.0017.
Against the Japanese yen, the dollar tumbled to more than a 10-month low of 87.57 in the session compared to yesterday's close of 88.5. The greenback slumped to a 6-day low of 1.6748 against the pound by 6:35 am ET, compared to 1.6591 hit late New York Tuesday. On the downside, the greenback may find target around the 1.685 level.
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