TOKYO, March 22 (Reuters) - The euro hit a two-year high against the dollar on Thursday as expectations grew that the Federal Reserve could cut interest rates later in the year.
The Fed kept interest rates unchanged as expected on Wednesday but traders said the central bank's removal of a tightening bias in its post-meeting statement heightened the likelihood of rate cuts later this year.
The euro rose as high as $1.3411 EUR=, its highest level since March 2005.
WASHINGTON (Reuters) - Consumer spending rose for a second straight month in November as incomes recorded their biggest gain in six months, but a surprise drop in new home sales was a reminder that the economic recovery would be bumpy.
The biggest U.S. city wants the state to ban one of the most promising sources of U.S. energy -- and also one of the most contentious. Full Article
American attitudes towards drug prohibition – and above all, punitive laws on marijuana – are changing too fast for policymakers and legislators to ignore. Commentary
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