United States

As risk aversion eases, dollar slips

On Wednesday dollar went down against all major currencies, besides yen, as the risk aversion eased, as the economic data from the United States was much stronger than it was expected, which moved backwards concerns about the US banking sector and the spreading of swine flu.

The growth figures of the first quarter are about to be announced, so there are still some worries remaining about the impact of this information on the market. The United States Federal Reserve also has to announce its future policy today.

Fortune Brands profit tops view but outlook cut

Fortune Brands Inc, maker of a range of products including Moen faucets and MasterBrand cabinets, posted higher-than-expected quarterly profit Friday on cost cuts, but lowered its full-year earnings outlook because of the weak economy.

Shares still rose, as a positive report from a realtor trade group heartened investors, who have forced Fortune shares down 51 percent this year due to its exposure to the anemic housing market.

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