(Bloomberg) -- The dollar fell to a record low
against the euro and dropped versus the yen on speculation losses
on debt backed by U.S. subprime mortgages will spread.
Signs a housing slump will deepen led traders to increase
bets on a Federal Reserve interest-rate cut, adding to the
dollar's decline. Deutsche Bank AG, which cut its price target on
the stock of Nomura Holdings Inc., an investor in U.S. mortgages,
said there's concern earnings may be eroded by losses from
subprime loans.
Read more at Bloomberg Currencies News
against the euro and dropped versus the yen on speculation losses
on debt backed by U.S. subprime mortgages will spread.
Signs a housing slump will deepen led traders to increase
bets on a Federal Reserve interest-rate cut, adding to the
dollar's decline. Deutsche Bank AG, which cut its price target on
the stock of Nomura Holdings Inc., an investor in U.S. mortgages,
said there's concern earnings may be eroded by losses from
subprime loans.
Read more at Bloomberg Currencies News
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