Reply #25: FT story

[Snazzy]

Dollar slides to new lows after Fed warning
By Neil Dennis in London and Krishna Guha in Washington

Published: February 27 2008 10:11 | Last updated: February 27 2008 11:39

The euro broke new records above $1.50 against the dollar on Wednesday, pushing oil and precious metals to fresh peaks, while weighing on equity markets.

The dramatic moves followed weak US data and comments from the Federal Reserve which reinforced expectations of further aggressive US rate cuts.

Dollar weakness was widespread. There were records for the euro, which climbed as high as $1.5087, and the Swiss franc, which hit SFr1.0668. By midday in London, the euro was up 0.4 per cent at $1.5035 and the Swissie was 0.5 per cent higher at SFr1.0693.

The dollar index, a measure of the US unit’s strength against a basket of currencies, fell to a record low of 74.264.

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http://www.ft.com/cms/s/0/fa616ac0-e519-11dc-9334-0000779fd2ac.html

They go on to quote the Fed being incredibly uninspiring and mealymouthed about "the next few years" -- wonderful.