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October 31, 2007
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Wednesday
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Shawwal 18, 1428
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Dollar near record lows
LONDON, Oct 30: The dollar was back near record lows against the euro after more weak data emerged from the US, this time showing that consumer confidence continues to wane.
The euro stood at $1.4421 in late European trade after reaching a record pinnacle of $1.4438 on Monday. It reached as high as $1.4437 during trade on Tuesday.
Monday’s rate, the highest level since the creation in 1999 of the single European currency, came as market players grew increasingly confident about the prospect of there being another reduction in US rates on Wednesday.
In European trade on Tuesday, the euro changed hands at $1.4421, against $1.4422 late Monday, at 165.42 yen (165.32), 0.6980 pounds (0.6989) and 1.6750 Swiss francs (1.6795).
The dollar stood at 114.71 yen (114.60) and 1.1613 Swiss francs (1.1643).—AFP
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