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| Version 1 | Version 2 |
|---|---|
| Dollar stays near record euro low | Dollar stays near record euro low |
| (about 3 hours later) | |
| The US dollar remained near record lows against the euro in early Friday trading, on growing expectation of a further American interest rate cut. | The US dollar remained near record lows against the euro in early Friday trading, on growing expectation of a further American interest rate cut. |
| After disappointing US economic data overnight, one euro was worth $1.4304 by mid-afternoon in Europe, just short of Thursday's all-time $1.4311 low. | |
| Analysts said the rise in US unemployment makes the Federal Reserve more likely to trim rates this month. | Analysts said the rise in US unemployment makes the Federal Reserve more likely to trim rates this month. |
| Against Japan's yen, the dollar remained near a three-week low. | Against Japan's yen, the dollar remained near a three-week low. |
| The greenback was at 115.38 yen, while against sterling, one pound was worth $2.0511. | |
| Rejuvenate confidence | Rejuvenate confidence |
| Commentators now expect the Fed to trim US interest rates from 4.75% to 4.5% when it next meets later this month. | Commentators now expect the Fed to trim US interest rates from 4.75% to 4.5% when it next meets later this month. |
| 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 the anticipation of further rate cuts. | Since then, a raft of mostly disappointing economic news and soft inflation figures has prompted the anticipation of further rate cuts. |