Dollar plunges through $1.40 against euro
By Peter Garnham
Published: September 20 2007 11:22 | Last updated: September 20 2007 11:22
The dollar dropped to record lows through the $1.40 level against the euro on Thursday as the US currency continued its slide following the Federal Reserve’s decision to cut interest rates earlier in the week.
“The key $1.40 level has been breached and dollar weakness is evident across all currency pairs reflecting the prospect of a move in interest rate differentials against the currency,” said Derek Halpenny at Bank of Tokyo-Mitsubishi.
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