Nov 2, 2007

MarketWatch: Dollar likely to drop no matter what the Fed does

Just as no one is expecting an interest rate hike Wednesday, no one is betting on a sustained dollar rally this quarter, either. And just as bad economic or corporate headlines -- or even record-high crude oil prices -- rarely seem to derail stock market rallies these days, nothing the Fed delivers is likely to halt the greenback's slide.

Whether the Fed cuts its benchmark a quarter percentage point, as expected, or a half-point --or even not at all -- the dollar is likely to bear the near-term brunt of the market's kneejerk reaction either way, and then move in one direction: down.

~ MarketWatch, "Dollar likely to drop no matter what Fed does," October 30, 2007, by Lisa Twaronite

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