Friday, March 14, 2008

Dollar Rebounds From Record Versus Euro on Intervention Concern

The dollar rose from a record low against the euro and traded above 100 yen as securities firms speculated central banks will intervene for the first time in 13 years to shore up the U.S. currency.

Goldman Sachs Group Inc. and Morgan Stanley said coordinated action by policy makers to stem the currency's slide is increasingly likely. The gains limited the dollar's losses in a week when it fell to the lowest in 12 years against the yen, approached parity with the Swiss franc and traded above $2 per U.K. pound…

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