NEW YORK (CNN/Money) - The dollar fell to a seven-month low versus the yen and hovered just above a record low against the euro Monday as it resumed its slide amid concerns about the U.S. ability to fund its current account gap.
The dollar had fallen to ¥105.18, its weakest since April, before trimming losses to ¥105.49 in later trading. The yen also drew support from Tokyo stocks, which closed up nearly two percent at a five-week closing high.
The greenback stood at $1.2948 per euro, close to the all-time low of $1.3005 set last week. The dollar index fell to its lowest since November 1995.
The dollar trimmed gains as U.S. Treasury Secretary John Snow stuck to his usual line, repeating Monday that the United States backs a strong dollar but rates are best set in markets.
If they like a strong Dollar, then why do they make it so the Markets dont trust it?
Im not complaining.... the weaker the Dollar, the cheaper things are for us in Europe (in Theory).. but surely there must be some worry over how weak its actually getting by now...