Dollar Hits Record Low Versus Euro

The dollar sank to a new low against the euro after the release of three disheartening economic reports Tuesday.

The dollar also hit floating-era lows against the Brazilian real and New Zealand dollar, or "kiwi."

The 15-nation euro leaped to $1.4982 before settling at $1.4967, its previous record, in late New York trading. On Monday, the euro was worth $1.4825. The euro's previous high of $1.4967 was set on Nov. 23.

The New York-based Conference Board said its Consumer Confidence Index fell to 75 in February from 87.3 in January, the index's lowest level since February 2003. The reading was below analysts' expectations.

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This article addresses the recent economic report that was released regarding the value of the American dollar and the euro. According to the article, the dollar hit an all-time low compared to the euro, the Brazilian real, and the New Zealand dollar ("kiwi"). Also the Consumer Confidence Index has fallen to seventy-five which is an all-time low since February 2003, dropping from 87.3 in January. Also the inflation rate has increased by one percent which is more than anticipated; this rise is contributed to the rising oil and food costs. This article shows the fluctuation of the United States's economy. It is the government's "job" to make the economy achieve more stable levels, so the government should attempt to implement policy to allow this to occur.

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