Bear Stearns bailout sends greenback sliding

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At business.smh.com.au

The US dollar sank below 99 yen, to the weakest in 12 years, and slumped to a record low versus the euro after JPMorgan Chase & Co. and the NY Federal Reserve bailed out Bear Stearns Cos., as credit market losses widen. The US currency also plunged to below one Swiss franc for the first time as traders speculated the Fed will slash interest rates one percentage point next week to avert a recession.

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At business.smh.com.au


 

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