Dollar Falls to Record Low Against Euro

The U.S. dollar fell to a record low against the euro on speculation the Federal Reserve will continue to reduce interest rates, dimming the allure of U.S. assets.

Losses in the dollar accelerated after London's Daily Telegraph newspaper reported, citing analysts, that Saudi Arabia may drop its currency's link to the dollar. The euro rose above $1.40 for the first time since its introduction in 1999. The dollar fell to a 15-year low against an index of six major currencies that includes the Japanese yen and British pound.

The New York Board of Trade's dollar index comparing the U.S. currency against its six primary peers, including the euro and yen, touched 78.722, the lowest since September 1992.

Dollar Falls to Record Low Against Euro, Bloomberg
9/20/2007 6:55:09 AM