The Senate passed a long-stalled measure on Thursday that would boost lending to small businesses, giving President Barack Obama’s Democrats one of their last chances before November elections they are working to revive the sluggish economy.
The US dollar fall to a two-month low against present currency basket of the euro after reports of a weaker economic outlook added to investors’ worries about a US recovery and Federal Reserve minutes heightened concerns about the outlook for the U.S. economy, the euro rose Friday above the psychologically key 1.30 dollar mark.
Wall Street stocks dived Friday after government data showed the US economy created fewer jobs than expected last month, raising questions about the strength of the recovery from recession.
Europe’s debt crisis will depress the euro still further after it declined to the lowest level since 2006, according to UBS AG and BNP Paribas SA. For years to come.