Dollar continues declines

The US dollar continued its declines on Thursday as it hit another new low versus the euro, dropped below ¥100 for the first time since 1995, and pulled nearly even versus the Swiss franc before recovering some losses after Standard and Poor’s predicted that large banks will see the end of mortgage and credit-related losses soon.

After going as low as a new record $1.5624 to the euro, the dollar had recovered to $1.5568 to the euro by just past noon in New York while at the same time it took ¥99.77 to buy a dollar before the dollar came back to ¥100.8800 and it took SFr1.0133 to buy a dollar after the franc had risen to SFr1.0045 to the dollar.

The yen was also higher in relation to the euro, trading at ¥156.71 before falling back to ¥157.0549 to the euro.

The pound was up versus both the US dollar and the euro, with the greenback trading at $2.0306 to the pound while it cost 76.67p to buy a euro in midday trade in New York.

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