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Dollar Slides to Record Lows Again
 NEW YORK (AP) -- The dollar struck new record lows against the euro Thursday after the European Central Bank kept its benchmark rate on hold and the U.S. released another batch of dour economic reports.The euro fetched a record $1.5370 in late New York trading before falling back to $1.5365. The European currency closed at $1.5262 Wednesday. Meanwhile, the British pound broke through $2 again after the Bank of England also decided to keep its key refinancing rate unchanged at 5.25 percent. The British pound rose to $2.0092 in New York, compared with $1.9916 it traded the night before. "Inflationary pressures similarly remain something of a high-profile concern of the Bank of England, but speculation continues to point toward a quarter-point cut during the second quarter," said James Hughes of CMC Markets. Posted by: Steve White 2008-03-07 |
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