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Tuesday, April 22, 2008

Dollar Falls to Record Against Euro as EU Inflation Quickens

By Ye Xie and Bo Nielsen

April 16 (Bloomberg) -- The dollar fell to a record low against the euro as European inflation accelerated last month, reducing chances the European Central Bank will follow the Federal Reserve in cutting interest rates.


The currency had its biggest decline versus the euro in three weeks, weakening to $1.5979 as U.S. housing starts dropped more than twice as much as forecast to a 17-year low. The Canadian and Australian dollars and the Norwegian krone increased after crude oil touched a record $115.07 a barrel. . . . . read more


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