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Euro at an all time high against the dollar

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Euro at an all time high against the dollar

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The euro has soared to an all-time high against the dollar. For the first time since it began trading the Eurozone currency now buys one dollar and 40 cents, having started out at almost the same value. The dollar’s slump comes on the back of increasing worries over the american economy, amid its mortgage crisis. The US Federal Reserve cut interest rates by half a percent in a move commonly used to jump-start the economy. But it can also have the effect of weakening a currency, by making it less attractive to investors.