Wednesday, February 27, 2008

Deep recession feared in USA

Dollar falls to record euro low
"The dollar has fallen to a fresh record low against the euro, after weak
economic data renewed fears that the US economy may be facing recession.

"After figures showed a sharp rise in US home foreclosures and another
fall in American consumer confidence, the euro hit an all-time high of

"Traders say the Federal Reserve may have to cut interest rates again,
which would further undermine the dollar.

"Meanwhile, US crude oil rose $2.20 to a fresh record of $101.43 a barrel."

Deep recession feared in U.S.
"Economists are no longer talking about a U.S. recession but a deep
recession after figures yesterday showed business sentiment continued to
plummet in early February."
Financial Post


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