Dollar hits all-time low vs. euro on credit concerns

07/15/2008 | Bloomberg

Speculation that Federal Reserve Chairman Ben Bernanke and Treasury Secretary Henry Paulson will tell a Senate panel Tuesday that credit-market losses are hurting U.S. economic growth pushed the dollar to an all-time low against the euro Tuesday. The dollar also hit a 25-year low against the Australian dollar. "The markets are reacting negatively to the renewed credit crisis in the U.S., and that's hurting the dollar across the board," said Roberto Mialich, a currency strategist in Milan, Italy, at Unicredit Markets & Investment Banking.

View Full Article in:

Bloomberg

Published in Brief: