White House Announcement Pushes the Dollar Down

The US Dollar has already dropped over 70 pips against the Euro this morning. This decline came in the wake of the White House announcement that stated growth estimates for 2006 and 2007 would be scaled down. The Bush administration curbed its projections for 2006 from 3.6% to 3.1%, while 2007 estimates were revised down from 3.3% to 2.9%. Read More.....