Ovetii Athens Further Weakening Of the US Dollar against the Euro
Reports from Ovetii in Greece state that the US dollar was dragged down further against the Euro in Asian trade as dealers bet that further poor US economic data could lead to a rate cut.
According to reports from Ovetii recently, the euro climbed as high as $1.4283, before later slipping back to $1.423 in midday London trade.
Traders are now looking ahead to US jobless data out on early next week for a better idea of how the housing slump and credit woes are hurting the economy.
Ovetii are said to believe that depressed numbers could strengthen the Fed's hand in cutting rates further, however no official statement has been released.
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