This article is from the source 'bbc' and was first published or seen on . It will not be checked again for changes.

You can find the current article at its original source at http://news.bbc.co.uk/go/rss/-/1/hi/business/7280727.stm

The article has changed 5 times. There is an RSS feed of changes available.

Version 1 Version 2
Dollar at another record euro low Dollar at another record euro low
(about 7 hours later)
The dollar has hit a record low against the euro as worries over the US economy continued to hurt the US currency. The dollar has hit a record low against the euro as worries over the US economy continue and after the European Central Bank decided to keep rates at 4%.
At one stage, it took $1.5345 to buy a euro. That is the weakest the dollar has traded since the single European currency was launched in January 1999. At one stage, it took $1.5373 to buy a euro. That is the weakest the dollar has traded at since the single European currency was launched in January 1999.
Falling US interest rates have made it less attractive to hold the dollar.Falling US interest rates have made it less attractive to hold the dollar.
Sterling was little changed against the dollar at $1.9920, with traders looking ahead to the Bank of England's interest rate decision, due at 1200 GMT. The ECB's decision not cut rates meant investors continued to buy the European currency, boosting its value.
Two gloomy reports on Wednesday raised expectations that the US Federal Reserve will lower interest rates when it meets later this month. The Bank of England announced it was keeping UK rates on hold, too, which weakened the dollar against sterling.
The pound traded at over $2 for the first time this year.
The currency markets expect the Federal Reserve to cut US interest rates before central banks in the UK or Europe, which makes the dollar a less attractive investment.
Two gloomy reports on Wednesday raised expectations that the Fed will lower interest rates when it meets later this month.
The Commerce Department reported that new orders for manufactured goods fell 2.5% in January, the biggest decline in five months.The Commerce Department reported that new orders for manufactured goods fell 2.5% in January, the biggest decline in five months.
A separate report from the Institute for Supply Management showed that activity in the US service sector shrank in February for the second month in a row.A separate report from the Institute for Supply Management showed that activity in the US service sector shrank in February for the second month in a row.