Fed rate cut prospects hit dollar

Rising expectations that the U.S. Federal Reserve will cut interest rates again soon hit the dollar on Thursday while global stocks outside Europe were generally higher.

Oil prices remained close to all-time highs, a factor that has begun to concern many investors, with leading crude producers giving mixed signals on the prospects for output increases.

The Fed painted a relatively negative picture on Wednesday when its Beige Book of anecdotal reports on regional economic conditions showed the pace of economic expansion has slowed since August.

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- Posted: 2007-10-18 10:41:22

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