US dollar plummets to record low against euro

July 23, 2007
US dollar plummets to record low against euro

THE US dollar touched a new record low against the euro in Asian trade today, hit by jitters about the US housing market troubles and recent falls in global share prices, dealers said.

The euro rose to as high as 1.3845 US dollars in early Tokyo trading, just beating its previous all-time best of 1.3843 seen on Friday.

By late morning in Asia, the euro stood at 1.3830 US dollars, up from 1.3820 on Friday in New York.

The dollar was at 120.93 yen, close to a six-week low, after 121.26 in New York. The euro eased to 167.21 yen from 167.70.