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The dollar fell to a record low against the euro after the Federal Reserve cut its benchmark interest rate by a quarter-percentage point and said the pace of economic growth will slow this year.
The dollar fell to a record low against the euro for the third consecutive session on Tuesday, a day ahead of the outcome of a Federal Reserve meeting at which an interest rate cut is expected.
The United States is strongly committed to a strong U.S. dollar and financial markets there are recovering from the subprime loan crisis even if the housing market has yet to touch bottom, U.S. Treasury Secretary Henry Paulson said on Tuesday.
The dollar sank to another record against the euro on Monday, trading at as much as $1.44 against the 13-nation currency for the first time, as markets anticipated a likely interest rate cut by the U.S. Federal Reserve this week.
The dollar slipped to record lows against the euro and a basket of currencies Friday as investors, faced with a run of weak U.S. economic data, anticipate a Federal Reserve interest rate cut next week.
The dollar rebounded from a fresh low on Monday after as traders pared back bets against the currency after the weekend's Group of Seven meeting yielded no call to action on the falling greenback.
The dollar hit a fresh record low against the euro and a basket of currencies on Friday, pressured by the growing view that a slowdown in the U.S. economy will force another cut in interest rates this month.
The dollar dropped to a record low against a basket of currencies and the euro Thursday, after Bank of America's third-quarter earnings results missed estimates, renewing concerns of a U.S. economic slowdown.
The dollar fell broadly Wednesday after a report showed housing starts dropped to their lowest level in 14 years in September, adding to concerns that the housing market may drag on the US economy.
The dollar rose against the euro and high-yielding currencies such as the New Zealand dollar Tuesday, as investors grew cautious of risky trades amid a sell-off in global equities and a surge in oil prices.
The yen hit its lowest levels in around two months against both the dollar and euro on Monday, as risk-seeking investors took advantage of cheap Japanese borrowing costs to fund purchases of high-return assets.
The dollar snapped a three-day decline against the euro and gained on the yen Friday, as solid September retail sales suggested U.S. consumers continue to spend despite a weak housing sector.
The dollar steadied against the euro on Friday as investors awaited US economic data that may shed more light on whether the Federal Reserve will continue to cut interest rates.
The dollar fell Wednesday on speculation that the Federal Reserve may cut interest rates again this year, to prevent a weak housing sector from damaging the broader economy.
The Singapore dollar hit a 10-year high versus the U.S. dollar on Wednesday after the central bank surprised markets by tightening monetary policy slightly, and other Asian currencies firmed as share prices rose.
The dollar fell against the euro on Tuesday, after earlier hitting a two-week high, as traders stepped in to buy back the common currency at cheaper levels.
Irked by the relentless ascent of their currency, euro zone finance ministers have decided to target China's yuan as the chief culprit in a quest for fair play on global exchange rates and trade.
The dollar gained in quiet trade Monday against most major currencies as investors reassessed risk and bet that Friday's sell-off on a U.S. payrolls report was overdone.
The Australian dollar settled around 90 U.S. cents on Monday, after scaling a fresh 23-year peak as investors piled back into riskier assets like higher-yielding currencies and stocks.
The dollar weakened Friday, after dealers decided a relatively solid U.S. employment report was not enough to move the U.S. economy off a slowing path and keep the Federal Reserve from possibly cutting interest rates.