Treasury Secretary Henry Paulson Fanny and Freddie and Rescuing the Dollar
Treasury Secretary Henry Paulson and Fed Chairman Ben S. Bernanke are frantically trying to shore the Dollar and deal with the Mortgage housing prices bubble.
July 15 (Bloomberg) -- The dollar may fall against the euro on speculation losses at Fannie Mae and Freddie Mac will deepen even after the U.S. government pledged support for the two- largest buyers of home loans.
The currency halted a three-day decline versus the euro yesterday after Treasury Secretary Henry Paulson asked Congress for authority to buy stakes in the companies ``if needed'' and the Federal Reserve authorized them to borrow directly from the central bank. Fed Chairman Ben S. Bernanke will testify before Congress on the economy today.
Dollar hits new low against euro
Tuesday July 15, 6:58 am ET
By Matt Moore, AP Business Writer
Dollar drops to new low against euro which tops $1.60
FRANKFURT, Germany (AP) -- The dollar sank to a new low against the euro on Tuesday, as markets worried about the ongoing U.S. lending crisis and the state of the country's economy.
The 15-nation currency rose to an all-time high of $1.6038 in European trading, surpassing its previous record of $1.6018 set on April 22.
After reaching the record, the euro fell back to $1.5983 -- still above the $1.5916 it bought in late New York trading Monday.
http://www.bloomberg.com/apps/news?pid=20601100&sid=aqxSMAiCN28o
http://biz.yahoo.com/ap/080715/dollar.html
July 15 (Bloomberg) -- The dollar may fall against the euro on speculation losses at Fannie Mae and Freddie Mac will deepen even after the U.S. government pledged support for the two- largest buyers of home loans.
The currency halted a three-day decline versus the euro yesterday after Treasury Secretary Henry Paulson asked Congress for authority to buy stakes in the companies ``if needed'' and the Federal Reserve authorized them to borrow directly from the central bank. Fed Chairman Ben S. Bernanke will testify before Congress on the economy today.
Dollar hits new low against euro
Tuesday July 15, 6:58 am ET
By Matt Moore, AP Business Writer
Dollar drops to new low against euro which tops $1.60
FRANKFURT, Germany (AP) -- The dollar sank to a new low against the euro on Tuesday, as markets worried about the ongoing U.S. lending crisis and the state of the country's economy.
The 15-nation currency rose to an all-time high of $1.6038 in European trading, surpassing its previous record of $1.6018 set on April 22.
After reaching the record, the euro fell back to $1.5983 -- still above the $1.5916 it bought in late New York trading Monday.
http://www.bloomberg.com/apps/news?pid=20601100&sid=aqxSMAiCN28o
http://biz.yahoo.com/ap/080715/dollar.html
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