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US dollar hits 2-1/2-month low vs euro before Fed
22:47
The U.S. dollar fell to a two-and-a-half-month low against the euro on Tuesday after more bad news from the housing sector and a record decline in consumer prices added to speculation that U.S. interest rates will fall closer to zero.
The Federal Reserve is widely expected to cut interest rates by at least 50 basis points from the current 1 percent at the end of its policy meeting later on Tuesday. The interest-rate futures market are also showing about a 64 percent chance the Fed could slash rates by 75 basis points. US dollar hits 2-1/2-month low vs euro before Fed
