After the recent release this week, of the FOMC, the US dollar dropped the lowest in one day since Sept 11, 2001 during this week of trading.
The dollar was steady when trading began in 2006, but the looming FOMC report and subsequent hint that the Federal government has will increase interest rates, rattled investors who quickly sold the dollar before the report was released.
This did occur and the interest rate was increased by 4.25 pct. The dollar continued to remain low, especially after the release of weak economic data for the manufacturing industry, and the higher oil prices have not helped to strengthen the dollar.
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