Dollar Falls to Two-Week Low

The dollar declined to a two-week low against the euro and the yen after the Federal Reserve gave no indication it will start reversing the most aggressive series of cuts in two decades.The greenback dropped for a second week as the Dow Jones Industrial Average headed for the worst June since the Great Depression and crude oil surged to a record. The European Central Bank is expected to raise interest rates by a quarter- percentage point on July 3, the same day a government report is forecast to show the U.S. lost jobs in June for a sixth month. Worldwide

Congressman Ron Paul comments on the Federal Reserve’s decision to maintain interest rates and raises concerns about inflation on June 25, 2008.

Filed under Economy, Federal Reserve by  #