Dollar Falls as Job Losses Anchor Fed's Pledge to Keep Rate Low

Nov. 7 (Bloomberg) -- The dollar fell against the euro onspeculation the Federal Reserve will keep borrowing costs nearzero into next year after the U.S. unemployment rate exceeded 10percent for the first time since 1983.

Sterling advanced for a second week versus the dollar afterthe Bank of England expanded its debt-buying program less thaneconomists had forecast, reducing concern policy makers areflooding the market with currency. The European Central Banksignaled an exit from economic stimulus before a report nextweek expected to show the euro zone’s economy expanded.

Read the whole story on Bloomberg or try our Toolbar
Bookmark and Share
blog comments powered by Disqus

Related stories:

  • Unemployment Rate Hits 10 Percent For The First Time Since 1983

    Nov 6th, 2009 - The Huffington Post

    Unemployment Rate Hits 10 Percent For The First Time Since 1983WASHINGTON — The unemployment rate has hit double digits for the first time since 1983 – and is likely to go higher. The 10.2 percent jobless rate for October shows how weak the economy remains even though it is growing...

  • Jobless Rate Hits 10.2%

    Nov 6th, 2009 - BusinessWeek

    The U.S. unemployment rate jumped from 9.8% to 10.2% in October, the U.S. Bureau of Labor Statistics reported on Nov.6. That rate exceeds economists' estimates of 9.9% and is the highest since April 1983.

  • Jobless Rate Tops 10%

    Nov 6th, 2009 - Wall Street Journal

    Jobless Rate Tops 10%WASHINGTON -- U.S. unemployment rose by more than expected in October to hit its highest level in more than 26 years and employers cut more jobs than forecast, a sign...

  • Jobless rate tops 10 pct. for first time since '83

    Nov 6th, 2009 - Forbes

    The unemployment rate has surpassed 10 percent for the first time since 1983 - and is likely to go higher. Nearly 16 million people can't find jobs even though the worst recession since the Great Depression has apparently ended...

  • Obama Says New Data Shows US Economy Recovering

    Oct 31st, 2009 - ABC News

    WASHINGTON (Reuters) - President Barack Obama used his weekly radio address on Saturday to tell Americans that this week's positive job and economic growth figures are yet more evidence that the U.S...

More stories ...

Related videos from YouTube:

More videos ...

Google Search: