CPI data
The USD falls to its lowest point versus the Euro
Wed, 07/16/2008 - 11:49 — fxThe sharp fall of the USD in relation to the Euro was caused by the worries concerning the US mortgage market and its consequences for the country economy.
The intention of the US government to provide some emergency assistance to large mortgage companies – Fannie Mae and Freddie Mac caused sharp decrease of the confidence in this market and the hike of the Euro to the point of $1.6038. Members of the market suppose that the assistance to the mortgage companies will be nothing but additional several billions of dollars that will increase the national debt and thus decrease credit rating of the whole country.
