Following the release of the minutes of the Federal Open Market Committee (FOMC), which showed that the Federal Reserve has lowered its growth estimates for this year, the U.S. Dollar fell against both the Euro and the Yen. Minutes from the FOMC meeting of April 30, 2008 showed that the Fed has reduced its estimate of the gross domestic product for this year to a range between 0.3% and 1.2% from the original estimate of between 1.3% and 2%. The gross domestic product is an estimate of the value of goods and services generated in the United States. It is by far the best indicator of the strength of the economy.