News Journal

U.S. dollar slumped to a low

After almost three weeks U.S. dollar lowered against Japanese Yen and Swiss Francs. The surge in oil prices reaching to a record price of $142 raised the risks of rise in inflation further. The Federal Reserve also suspected an increase in inflation but the Fed denied increasing rates in its next policy meeting.

The European Central Bank said that it will increase interest rates in July and Euro rose against dollar after the announcement to reach $1.5766.