US dollar in its biggest slide
Wednesday, 27 February 2008

Brussels 27/2 

American dollar reached all-time low in relation to the Euro, breaking the psychological barrier of 1,50 dollars for one Euro.

The latest decline of the dollar followed the latest information that American economy will enter recession, and the Federal Reserves continue to lower the key interest rate.

The weakening of the dollar also caused a new record of the price of oil, which now sells for 101 dollar per barrel.

At the same time, the index that measures the trust in American economy, published by "Conference Board", in February fell to 75 points, which is a record all-time low in the last five years.

According to US president George W. Bush, American economy is not in crisis, but instead seeing a slowdown of the growth rate.

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