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| Version 0 | Version 1 |
|---|---|
| Dollar continues near record lows | Dollar continues near record lows |
| (about 4 hours later) | |
| The US dollar has remained weak against both the euro and the yen in Monday trading as worries about the strength of the US economy continue. | The US dollar has remained weak against both the euro and the yen in Monday trading as worries about the strength of the US economy continue. |
| The dollar fell to $1.464 against the euro by late morning trade in Europe, and dropped to 110.47 yen. | |
| At the start of November, the dollar hit a record low of $1.4752 against the single European currency. | At the start of November, the dollar hit a record low of $1.4752 against the single European currency. |
| The strength of the dollar had been undermined further by weak US economic data released on Friday. | The strength of the dollar had been undermined further by weak US economic data released on Friday. |
| Interest rate cuts | Interest rate cuts |
| As a growing number of US banks reveal their exposure to bad US mortgage debt, data on Friday showed the biggest drop in American industrial production since January. | As a growing number of US banks reveal their exposure to bad US mortgage debt, data on Friday showed the biggest drop in American industrial production since January. |
| Taken together, analysts say this suggests further cuts in US interest rates. | Taken together, analysts say this suggests further cuts in US interest rates. |
| "There are no fundamental reasons to buy the dollar," said Tsutomu Soma, senior manager of foreign securities at Okasan Securities. | "There are no fundamental reasons to buy the dollar," said Tsutomu Soma, senior manager of foreign securities at Okasan Securities. |
| The US Federal Reserve last cut interest rates in October to 4.5%, in an effort to kick-start the faltering housing and credit markets, as well as making borrowing cheaper to encourage consumer spending in the run-up to the key Christmas shopping period. | The US Federal Reserve last cut interest rates in October to 4.5%, in an effort to kick-start the faltering housing and credit markets, as well as making borrowing cheaper to encourage consumer spending in the run-up to the key Christmas shopping period. |
| It has signalled that it will adopt a wait-and-see approach to the future direction of interest rates. | It has signalled that it will adopt a wait-and-see approach to the future direction of interest rates. |