Fed rate cuts have hurt dollar versus euro - OECD

- Central Banking staff
- 09 Oct 2001

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FRANCE - Aggressive interest rate reductions this year by the U.S. Federal Reserve were a factor in the dollar's decline against the euro during the summer, the Organization for Economic Cooperation and Development said Monday.

"One of the factors driving foreign-exchange markets has been interest rate developments," the OECD said in its September issue of Financial Market Trends released Monday. "The shifts in interest (rate) differentials that was triggered by eight cuts in U.S. official rates

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