The US Dollar reached new lows against the Euro, reaching $1.364 by 6pm last night. The USD has now fallen 7% against the Euro this year, and lost 3.2% against the Yen.
Traders do not expect the European Central Bank to make any moves to weaken the Euro itself, while the US is expected to allow for further depreciation of the dollar so as to help face its massive trade deficit.
Posted by brian_turner at December 28, 2004 03:51 PM
