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| Version 0 | Version 1 |
|---|---|
| Euro bursts to fresh dollar high | Euro bursts to fresh dollar high |
| (about 2 hours later) | |
| 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. | 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. |
| In Tokyo trade, the euro climbed as high as $1.4283, before later slipping back to $1.423 in early European trade. | |
| Traders are now looking ahead to US jobless data out on Friday for a better idea of how the housing slump and credit woes are hurting the economy. | Traders are now looking ahead to US jobless data out on Friday for a better idea of how the housing slump and credit woes are hurting the economy. |
| Depressed numbers could strengthen the Fed's hand in cutting rates further. | Depressed numbers could strengthen the Fed's hand in cutting rates further. |
| The dollar has been sliding since the Federal Reserve cut rates from 5.25% to 4.75% in September to help rejuvenate confidence in the world's largest economy. | The dollar has been sliding since the Federal Reserve cut rates from 5.25% to 4.75% in September to help rejuvenate confidence in the world's largest economy. |
| This followed a summer of turmoil in the world's credit markets, sparked by record loan defaults in the US sub-prime mortgage sector. | This followed a summer of turmoil in the world's credit markets, sparked by record loan defaults in the US sub-prime mortgage sector. |
| Since then, a raft of mostly disappointing economic news and soft inflation figures has prompted anticipation of further rate cuts. | Since then, a raft of mostly disappointing economic news and soft inflation figures has prompted anticipation of further rate cuts. |
| Eurozone rates | Eurozone rates |
| Meanwhile, the European Central Bank's rate-setting committee is due to meet this week. | Meanwhile, the European Central Bank's rate-setting committee is due to meet this week. |
| No change is expected in the 13-member eurozone's key interest rate, which is currently 4%. | No change is expected in the 13-member eurozone's key interest rate, which is currently 4%. |
| Analysts say the ECB will want to exercise caution in the face of fragile stock markets, although Mr Trichet has maintained recently that Europe's economy remains strong. | Analysts say the ECB will want to exercise caution in the face of fragile stock markets, although Mr Trichet has maintained recently that Europe's economy remains strong. |
| Investors will listen carefully to the words used by ECB President Jean-Claude Trichet in the news conference after the meeting for any indication of where eurozone rates will be headed next. | Investors will listen carefully to the words used by ECB President Jean-Claude Trichet in the news conference after the meeting for any indication of where eurozone rates will be headed next. |