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article imageA 'tipping point' for US dollar

By Sam Elfassy     Nov 28, 2006 in World
Analysts: A dramatic moment for the US dollar as foreign exchange markets wake up to the threat that the Federal Reserve will have to slash interest rates in the new year to stave off recession.
A sharp sell-off on Friday took the US dollar to 18-month lows against the euro.
Tim Fox, currency strategist at Dresdner Kleinwort Wasserstein:
"We are just at the start of what we think will be a downtrend for the dollar - a tipping-point has probably been reached".
More about US dollar, US economy, US decline, World economy, Economic tipping point