Fed outlook on economy lowers dollar rate

The downgrading of US bond insurer and the subdued look towards the economy in the last few months has been responsible for worsening of US economy and the Fed chairman Ben Bernanke pledged that it will take timely steps to support the economy.

The European indexes went up on Friday and the US banking shares lowered at the Wall Street on Friday. It is assumed that Fed will again cut rates in March to make a total of about 225 points of reductions.