The dollar fell to a record low against the euro on Friday, with analysts forecasting more declines to come
Published:
7 November 2004 y., Sunday
The dollar fell to a record low against the euro on Friday, with analysts forecasting more declines to come.
Meanwhile, oil prices moved in the opposite direction, with a barrel of U.S. light crude ending up 79 cents to $49.70 on fresh Iraqi security concerns.
With the U.S. forces stepping up the pressure on Iraqi rebels in Falluja, Brent crude also finished up in London, gaining 41 cents to close on $46.42.
Analysts believe the U.S. will try to keep the dollar weak to boost exports. They point to America's giant trade deficit. FURTHER FALLS?
The U.S. currency dropped as low as $1.2962 against the euro on Friday.
The fall came despite positive jobs data from the U.S. Labor Office on Friday, showing that 337,000 new positions were created in the U.S. in October - double Wall Street's expectations.
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