(Bloomberg) -- The dollar fell to a record against
the euro and dropped the most since March versus the yen on
speculation the housing market's slump will worsen.
The U.S. currency also sank against the Swiss franc, British
pound and Danish krone after Standard & Poor's warned it may cut
ratings on $12 billion of bonds backed by subprime mortgages,
diminishing the appeal of dollar-denominated assets. Futures
contracts show traders forecast the Federal Reserve will keep
borrowing costs on hold through year-end.
Read more at Bloomberg Currencies News
the euro and dropped the most since March versus the yen on
speculation the housing market's slump will worsen.
The U.S. currency also sank against the Swiss franc, British
pound and Danish krone after Standard & Poor's warned it may cut
ratings on $12 billion of bonds backed by subprime mortgages,
diminishing the appeal of dollar-denominated assets. Futures
contracts show traders forecast the Federal Reserve will keep
borrowing costs on hold through year-end.
Read more at Bloomberg Currencies News
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