The dollar hit an all-time low against the euro, which hit above $1.35
after a mixed economic report from the Commerce Department. The euro's
spike may have something to do with a reduction in trading just before
the Christmas holiday, said Adrian Hughes, a currency strategist with
HSBC in London. The 12-nation currency has risen sharply since
September, when it was trading for around $1.20, because of persistent
concerns about the ballooning U.S. trade and budget deficits. The
previous high of $1.3470 was set Dec. 7. The dollar also fell against
other rivals, with the British pound rising to $1.9201 and the Japanese
yen rising to 103.70. The dollar fell to 1.1440 Swiss francs and 1.2334
Canadian dollars. [more]
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