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| Version 2 | Version 3 |
|---|---|
| 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 continue and after the European Central Bank decided to keep rates at 4%. | 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 $1.5393 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. |
| The ECB's decision not cut rates meant investors continued to buy the European currency, boosting its value. | The ECB's decision not cut rates meant investors continued to buy the European currency, boosting its value. |
| The Bank of England announced it was keeping UK rates on hold, too, which weakened the dollar against sterling. | 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 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. | 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. | 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. |