Dollar Trades at Record Low Versus Euro

March 13, 2008
Dollar Trades at Record Low Versus Euro

March 13 (Bloomberg) -- The dollar traded at a record low against the euro as firms from Citigroup Inc. to Goldman Sachs Group Inc. said the Federal Reserve's plan to inject $200 billion into the banking system may fail to break the freeze in money-market lending.

The U.S. currency plunged yesterday against the euro, yen and Swiss franc, erasing a rally from March 11 when the Fed said it would lend Treasuries to financial institutions and take mortgage debt as collateral. Traders bet the Fed will cut rates by as much as three quarters of a percentage point next week to avert a recession, while the European Central Bank keeps borrowing costs unchanged at 4 percent.

Dollar hits record low vs. euro

November 20, 2007
Dollar hits record low vs. euro

NEW YORK (Reuters) — The dollar slid to a record low versus the euro Tuesday after the Federal Reserve said a housing slump, tighter credit conditions and high oil prices would likely slow U.S. economic growth in 2008.

The forecast was released along with minutes from the Fed's October policy meeting, which revealed officials' decision to cut rates was a close call following a debate on whether to await more evidence that a housing slump was curbing growth.

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.

Euro Hits New High Against U.S. Dollar

July 10, 2007
Euro Hits New High Against U.S. Dollar

The euro soared to an all-time high against the U.S. dollar on Tuesday, topping the $1.37 mark as key U.S. retailers and homebuilders lowered their growth forecasts, causing more concern about the American economy.

Along with the rise in the pound, the stronger euro also makes visits to much of Europe more expensive for travelers from elsewhere and makes shopping trips to the U.S. more appealing to Europeans.

"The dollar is a basket case," said Peter Schiff, president of Euro Pacific Capital Inc. "We are going to pay the piper for years of having the underlying fundamentals of our economy disintegrate beneath our feet."