The Times - Euro rampant as dollar sags on more losses
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Euro rampant as dollar sags on more losses
The dollar sank to a new low against the euro on Thursday as fresh evidence of losses in the mortgage industry stoked fears of a sharper-than-expected economic slowdown in the U S and crude oil rose to another record. In late afternoon trading in New York, the euro traded at 1.4294, up from 1.4186 on Wednesday. Crude oil for November delivery rose 2.07, or 2.4% , to 89.47 a barrel. In after- hours electronic trading, the price rose slightly above 90.
The declining dollar has made commodities, which are priced in dollars, more attractive as investments, while tensions between Turks and Kurds over border violence in northern Iraq have helped keep oil prices rising.
Labels: Dollar, euro, World Economy
