Friday, May 4, 2007

Dollar Falls to Within Cent of Record Low Versus Euro on Unemployment Data

(Bloomberg) -- The dollar fell to within a cent of the all-time low against the euro and dropped versus the yen after a government report showed U.S. employers added the fewest jobs in more than two years.

The U.S. currency also weakened to an eight-month low against the Canadian dollar and declined versus the pound and Swiss franc on speculation the Labor Department's data will increase the likelihood of a cut in borrowing costs by the Federal Reserve. Reports earlier this week showed pending home sales unexpectedly declined and inflation moderated in March.


Read more at Bloomberg Currencies News

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