WASHINGTON — The dollar fell to a record low against the euro, extending its three-day rout to 2.5 percent, as a cooling labor market and slowing economy fueled bets that the Federal Reserve would cut interest rates at least twice more.
U.S. currency also approached a 2½- year low versus the Japanese yen and dropped to a record against the Swiss franc, deepening its losses after Fed chief Ben Bernanke said it was “fair” to say it was tougher for the bank to respond now than to the 2001 recession.
The dollar touched $1.5229 a euro, the weakest since the euro began trading at about $1.17 in January 1999. The dollar was at $1.5213 at 4 p.m. in New York, from $1.5120 Wednesday. The dollar fell to 105.34 yen from 106.49, touching the lowest since Jan. 23. It also fell as low as 1.0485 francs.
