Dollar Drops to Record Low Versus Euro as Subprime Losses Threaten Growth

(Bloomberg) -- The dollar dropped to a record
low versus the euro and the weakest in 26 years versus the
pound on speculation losses from subprime mortgages will
worsen the U.S. economic outlook.

The U.S. currency fell a sixth straight week against
the euro and pound, while tumbling to a 22-year low versus
the New Zealand dollar and the weakest in 18 years against
the Australian dollar. The dollar may extend its drop next
week as U.S. reports may show declining sales of existing
and new homes.


Read more at Bloomberg Currencies News