Tuesday, July 10, 2007

Dollar Falls To Record Euro Low

The dollar has fallen to a record low against the euro and yet another 26 year slump against the pound. With investors fearful that the ongoing downturn in the US housing market will start to slow the economy, the euro rose as high as $1.3741 on Tuesday. The pound touched as high as $2.0274, as it continued its recent gains. The dollar's latest fall came after the key Standard & Poor's credit rating agency said it may downgrade in subgrade mortgage debt.

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