The dollar has managed to decline even further in the trading community, losing ground against Euro and six other major currencies for the second day in a row. Tuesday May 6, 2008’s trading results from Fannie Mae came in much weaker than originally projected. Fannie Mae is the largest home financier in the United States and they have reported a quarterly loss three times in a row. This is an indication of just how bad the housing crisis in America has become and that it is far from being over.
The crisis is causing trading on the dollar to be in bad shape with it closing 0.4% lower than both the Euro and Japanese Yen. Part of the drop on Tuesday could have caused by waning risk appetite and the falling of European equities. Support for the single currency actually drew strong support from the Euro zone as sector data indicates, a surprising turn of events considering the concern over rising inflation pressures as related to food and oil and how it will impact the worldwide community.
The crisis is causing trading on the dollar to be in bad shape with it closing 0.4% lower than both the Euro and Japanese Yen. Part of the drop on Tuesday could have caused by waning risk appetite and the falling of European equities. Support for the single currency actually drew strong support from the Euro zone as sector data indicates, a surprising turn of events considering the concern over rising inflation pressures as related to food and oil and how it will impact the worldwide community.
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