US dollar slumps to new low against euro
Sceptical markets drove the US dollar to another all-time low against the euro today, with the European currency climbing to $1.3192.
The euro rose to a new high for a third consecutive day, breaking through yesterday’s record of $1.3178. It then slipped back to $1.3176 dollars in morning trading.
The current dollar slide, driven primarily by concerns over the US trade and budget deficits, has taken the euro from $1.20 about two months ago. It rose above the $1.31 dollar mark for the first time on Tuesday.
Many economists say the drop is being fuelled more by general anti-dollar feeling in markets than by any specific event.
