Fri
29
Feb
Euro dollar hit a record high over $1.52 as Fed Chairman Bernanke indicated the central bank is still prepared to cut interest rates which are already at a three year low. He also went to say some smaller banks may not recover from the credit crisis and unemployment to increase. ``This is the Bernanke shock, causing much faster dollar depreciation than expected,'' said Michiyoshi Kato, a senior vice president of currency sales in Tokyo at Mizuho Corporate Bank Ltd., a unit of Japan's
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Friday, February 29th, 2008 at 2:58 pm
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