The Fed cut its benchmark interest rate to 1.00%

The Federal Reserve cut its benchmark interest rate by half a percentage point to 1 percent. This is a half-century low, in an effort to avert the worst U.S. economic downturn in the post-war era. The some of the traders predict even another quarter percent cut to 0.75%. The Fed probably will stop with the interest rates cut and will hold the interest rates at 1% for the coming couple of months said Peter Mill forex expert in It is not except another cut to 0.75% even 0.50% but far in 2009. The dollar down close to 1.30 against the euro as the forecast is for levels up to 1.36.

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