Dollar Nears 3-Year Low

Set for biggest weekly plunge since January
By Matt Cantor,  Newser Staff
Posted Apr 29, 2011 4:45 AM CDT
US Dollar Value Near 3-Year Low
Traders work on the floor of the New York Stock Exchange.   (AP Photo)

The dollar’s value today remained near its lowest in three years against multiple currencies, and it’s set for its largest weekly drop since January, Reuters reports. The figures follow the Federal Reserve’s suggestion that it had no immediate plans to tighten its monetary policy, prompting a big sell-off of the dollar. With the dollar index down 0.1%, the euro held close to a 17-month high reached yesterday; it’s poised to break $1.50. The Australian dollar, meanwhile, is near its highest value in 29 years against the US dollar. (More Australian dollar stories.)

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