UPDATES ON JULY 15 2008

JULY 15 TUESDAY

Dollar Falls on Concern Credit-Market Losses Will Damp Growth .

The dollar fell against the yen and euro on speculation Federal Reserve

Chairman Ben S. Bernanke and U.S. Treasury Secretary

Henry Paulson will tell lawmakers credit-market losses will

weigh on U.S. economic growth.

The currency declined to a 25-year low versus the Australian

dollar on concern confidence in the debt of Fannie Mae and

Freddie Mac will deteriorate even after the U.S. government

pledged support for the two-largest buyers of home loans.

The yen remained higher after the Bank of Japan kept

interest rates unchanged at 0.5 percent today, the lowest

among major economies.

The Bank of Japan kept the benchmark overnight lending rate unchanged .

U.S. stocks fell yesterday, led by financial shares, after the

government's seizure of Pasadena, California-based IndyMac

Bancorp Inc. and predictions of wider credit losses overshadowed

Paulson's pledge to shore up Fannie and Freddie.

Global banks and securities firms have reported losses of about

$400 billion as the subprime-mortgage market collapsed.

The Dollar Index traded on ICE futures in New York, which

tracks the greenback against the currencies of six U.S. trading

partners, traded at 71.783 today from 71.915 yesterday.