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Dollar drops to 14-month low against the euro

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Dollar drops to 14-month low against the euro


The US dollar has fallen to its lowest level against the euro in more than a year.

The value of the US greenback has been slipping against other major currencies since the financial downturn kicked in. There are concerns the dollar will in time lose its reserve currency status. Economic strategists say the weak dollar suits the US economy as anything that improves exports will assist in reviving the job market. The British pound appears to be going the same way after it fell to a six-month low against the euro and a five-month low against the dollar.

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