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LONDON, Oct 31: The dollar continued at record lows against the euro on Wednesday as stronger-than-expected US growth figures failed to alter expectations that the Federal Reserve will cut interest rates, dealers said.
Analysts said the market was convinced the Federal Reserve will cut interest rates at 1815 GMT Wednesday — by 25 points to 4.50 per cent — despite third quarter US growth of 3.9pc, way above forecasts for 3.1 per cent.
In late European trade, the euro hit a record $1.4472, topping the previous best set earlier in the day of $1.4467 and compared with $1.4441 in New York late Tuesday.—AFP
