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Dollar Falls to Another Record Low Against Euro


The dollar fell to yet another new record low against the euro Monday, but recovered a bit after a top economic official expressed concern about the soaring value of the European currency.

It took just under $1.29 to buy one euro before European Central Bank President Jean-Claude Trichet spoke out. The dollar then strengthened about two-thirds of a cent.

Currency traders may have interpreted the comments as a signal that governments are growing more likely to intervene to slow the soaring euro.

Economists say the rising value of the euro makes European-produced goods more expensive on world markets. Those higher prices slow economic growth from Europe's export sector needed to spur the continent's slow economic recovery.

Experts blame the dollar's most recent plunge on last Friday's bleak report on U.S. jobs.

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