U.S. Dollar in All-time Low against the Euro

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The dollar has fallen to yet another all-time low against the euro, after further weak US economic data.

Figures showed that US consumer confidence has fallen to a near two-year low, while house prices have seen the sharpest drop in 16 years.

Analysts said the data boosted expectations that the Federal Reserve will cut interest rates still further.

In early trading on Wednesday, the euro hit a high of $1.4162, before pulling back to $1.4131 by 2230 GMT.

'Anti-dollar momentum'

The Fed cut US interest rates to 4.75% from 5.25% last week, in a move aimed at restoring confidence in both the housing and financial markets.

source: news.bbc.co.uk