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| Dollar sinks to another euro low |
| The US dollar tumbled to a new euro low in early Asian trade as concerns over the state of the US economy deepened.
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| UNITED STATES OF AMERICA
, 22-October-2007
3:26:23 AM |
| The euro traded as high as $1.4348, breaking its last record set on Friday when one euro bought $1.4319.
The sell-off was triggered on Friday by a profit warning from building equipment giant Caterpillar, prompting concerns over the slowing US economy.
Analysts say the US Federal Reserve will have to cut rates again and this could weaken the dollar further.
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