The European currency reached 1,4967 dollars at 0330 GMT, approaching the psychological barrier of 1.50 dollars per euro, in a market marked by the closure of New York City on Thursday (the feast of Thanksgiving Day) and Tokyo, Friday. At 0625 GMT, the European currency stood at 1,4922 dollars. The dollar is weakened by the economic slowdown expected in the United States, where the US Federal Reserve (Fed) has revised downward its growth forecast for 2008. The Fed has positioned it in a fork between 1.8% to 2.5%. The great most of the money changers thinks that the Fed will have to perform a new monetary readjustment in December to give a little oxygen to the economy affected by the crisis in the real estate sector, especially with suppresses them as protagonists. At its next meeting, on December 11, the interest rates in the USA can pass so to 4.25% compared to that 4.50% from the end of October.
Successive records of the euro provoked a new alarm in the area of the single European currency. The German Chancellor, Angela Merkel, acknowledged Thursday that the strong euro is a little positive factor in Germany, at the time that acknowledged that it naturally poses a problem. The topic may be discussed at the meeting scheduled for Friday, at 19.15 GMT, at the Palace of Elysee, in Paris between the French President, Nicolas Sarkozy, and the President of the European Central Bank (ECB), Jean-Claude Trichet. Investors could speculate with lower rates in the euro area but we believe that it will not occur for which involve risk inflationary in this area.