About Me

My photo

God desires that ALL people would accept God's love and salvation through Jesus Christ. God has compelled me to share information with the world relating to the biblical seven year tribulation in order to share Truth in a deceived world.

In the beginning was the Word, and the Word was with God, and the Word was God. He was with God in the beginning. Through Him all things were made; without Him nothing was made that has been made. In Him was life, and that life was the light of men. The light shines in the darkness, but the darkness has not understood it. (John 1:1-5)

Jesus answered, "I AM the way and the truth and the life. No one comes to the Father except through me." (John 14:6)

Friday, March 28, 2008

Dollar Heads for Biggest Weekly Drop Against Euro in a Month

Bloomberg.com:
Japan

The dollar headed for its biggest weekly decline in a month against the euro as traders raised bets the Federal Reserve will cut interest rates to avert a recession.

The currency was also poised to drop versus the British pound and the Swiss Franc before a U.S. government report today that will probably show growth in consumer spending slowed.

``There are further declines ahead for the dollar,'' said Antje Praefcke, a Frankfurt-based currency strategist at Commerzbank AG, Germany's second-largest bank. ``The U.S. is probably facing a recession and the Fed will cut rates further. There are ongoing problems with the financial sector. All of this is not good news for the dollar.''

The U.S. dollar has fallen 8 percent against the euro this year, heading for its sixth straight quarterly loss and the biggest since 2004 as the Fed slashed interest rates by 3 percentage points since September to 2.25 percent.

No comments: