Dollar Falls on Concern US Recession Will Deepen; Pound Drops
Dec. 29 (Bloomberg) - The dollar dropped for a fourth day against the euro before US housing and manufacturing reports this week that may show the world’s largest economy is slipping further into a recession.
The greenback also slid versus the yen on speculation that Israel’s conflict with Hamas in the Gaza Strip may disrupt supplies of oil to the US, the world’s biggest consumer. The British pound fell to near a record low against the euro after a survey of UK estate agents and surveyors forecast home prices will slide in 2009, extending this year’s declines.
Full story at Bloomberg here: http://www.bloomberg.com/apps/news?pid=20601087&sid=a.K6JO16GVmQ&refer=home
