Interest And Economic Outlook

Dollar posted it biggest one-day gain against majors on changing interest and economic outlook

News and Events:

The Dollar rallied on Friday, posting its biggest one-day gain versus the Euro in 7-1/2 years as the Market changed outlook on interest rate amid signs the US slowdown was spilling over to the global economy.
EurUsd traded below $1.5000 for the first time since February helped by Oil prices tumbling below $115 per barrel.

Other major currencies, including Sterling and the Swiss franc, fell 1% or more against the Dollar, which some analysts suggest may finally be emerging from a broad downtrend that has lasted almost seven years.

European Central Bank President Jean-Claude Trichet's highlighting of increasing risks to euro zone growth on Thursday had left traders to conclude that monetary policy would have to become looser, analysts said.

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