Wall Street is cheering the latest hint of a new interest rate cut by Fed chief Ben Bernanke. Stocks are up! If you are like me, Wall Street gains hardly impact my day-to-day existence as I don't have a million bucks tucked away in stocks. The downside, of course, to a new rate cut is that the dollar will continue to tumble.
The dollar slid against the European single currency on Friday after US Federal Reserve chief Ben Bernanke stoked expectations of another reduction in US borrowing costs, analysts said.
In early European trading, the euro rose to 1.4752 dollars from 1.4742 late on Thursday in New York. At the end of last week, the euro had hit a record 1.4967 dollars.
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