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March 12, 2008 - Forex Economic News
Euro breaks new record high verses USD, EUR/USD passes 1.5500.
The Euro broke through to make another new record high against the U.S. dollar today as the dollar's rebound was shortlived. Yesterday, the dollar rebounded after the U.S. Fed announced a plan to pump $200 billion into the banking system to help alleviate the credit tightening and provide more liquidity. Today, the market seems to think that plan will not be as effective and the dollar is back under pressure. The EUR/USD pair reached its record heights today, busting through the 1.5500 mark and reaching the 1.5570 level.
Tags: usd, euro, record high, eur/usd, 1.5500
