(Bloomberg) -- The dollar declined to a record
against the euro and weakened versus a dozen other of the most
actively traded currencies on speculation subprime mortgage
losses will deepen, slowing U.S. growth.
The currency's drop accelerated after Countrywide Financial
Corp., the biggest U.S. mortgage lender, reported its third
straight decline in quarterly profit as late loan payments
increased. At least 35 bond and loan deals worldwide have been
pulled, delayed or restructured in the past five weeks,
according to Bloomberg data.
Read more at Bloomberg Currencies News
against the euro and weakened versus a dozen other of the most
actively traded currencies on speculation subprime mortgage
losses will deepen, slowing U.S. growth.
The currency's drop accelerated after Countrywide Financial
Corp., the biggest U.S. mortgage lender, reported its third
straight decline in quarterly profit as late loan payments
increased. At least 35 bond and loan deals worldwide have been
pulled, delayed or restructured in the past five weeks,
according to Bloomberg data.
Read more at Bloomberg Currencies News
No comments:
Post a Comment