Forex US dollar deepens losses vs euro, falls 2 percent
NEW YORK, Sept 22 (Reuters) – The U.S. dollar extended losses on Monday, falling 2 percent against the euro to a fresh three-week low, weighed down by worries about the fiscal impact of the U.S. government’s $700-billion bailout plan aimed at addressing the global credit crisis.
The euro rose as high as $1.4775 versus the dollar, the highest since late August, according to Reuters Dealing, and down 2.1 percent on the day. That was the largest one-day rise since January 2001.
Also accelerating the euro’s rise were stops taken out above $1.4728, traders said.
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