Greenback hits low against euro
On Monday, US dollar moved down against euro as it touched a three-week. The lows hit by the greenback is the result of concerns regarding the outcome of the $700-billion bailout plan of the government of united states, which is designed to soothe the worldwide credit crisis.
Euro moved up against dollar to a high of $1.4660, which is the highest level touched since 1st of September.
Director of currency research at Action Economics in Tampa, Florida, Ron Simpson said that it is hard to guess the result of the rescue plan of US government. Ron added that one can only estimate the amount it will charge, also that the scenario of economic position of US is not that great with all the uncertainty circling around.