The Dollar rose on Wednesday, reversing a two-day losing markets, supported by views that slowing global economic growth would prompt a wave of interest rate cuts outside the United States. It gained in quiet trade despite a rebound in Crude Oil prices to 5.51 a barrel.
Data from Europe and Japan are increasingly pointing to deterioration in the growth outlook for those regions, leading
investors to anticipate early rate cuts from both the European
Central Bank and the Bank of England.
There are worries that US home finance providers Fannie Mae and Freddie Mac may need a government bailout.
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