December 2, 2004 09:51 AM
Dollar Struggles From New Lows
Excerpt: Early morning in New York, the euro was unchanged from late Wednesday at $1.3323, with the dollar struggling to regain ground after falling to a new low of $1.3380 earlier in the day.
The dollar struck another record low against the euro and a five-year low on the yen Thursday, while bonds were little changed following a mixed jobless claims report.
Early morning in New York, the euro was unchanged from late Wednesday at $1.3323, with the dollar struggling to regain ground after falling to a new low of $1.3380 earlier in the day.
The dollar bought ¥102.67, also little changed from late Wednesday, after hitting a five-year low on the yen at ¥101.86.
The greenback pared losses as traders grew nervous that the European Central Bank would intervene to stop the euro's meteoric rise against the dollar.
The dollar has lost nine percent against the euro since early October, battered by worries over the U.S. budget and trade deficits.
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