LONDON, Nov 10: The euro fell further against the dollar on Thursday as the market continued to focus on expectations of further increases of interest rates in the US and despite data showing that the US economy had racked up a record trade deficit in September.
In late European trade the euro was trading at $1.1732 from $1.1763 late on Wednesday in New York.
The dollar stood at 117.08 yen from 117.53 yen on Wednesday.
Data from the US Commerce Department showed that the US trade deficit increased by 11.4 per cent in September from August to a record $66.1 billion, about $5 billion more than analysts had been expecting.
The August trade deficit was revised up slightly to $59.3 billion from an initial estimate of $59 billion.
“The dollar’s ability to shrug off the record trade deficit reflects the degree to which the market is bullish right now on the greenback,” said Michael Woolfolk at the Bank of New York.—AFP
