Dollar Hit Four-year Low against Euro on Monday

World | May 19, 2003, Monday // 00:00

The dollar sank to a four-year low against the euro on Monday after comments from John Snow, US Treasury secretary, over the weekend were interpreted as a sign Washington would tolerate a weakened dollar. In early European trade the dollar fell to $1.1715, within sight of the 1999 launch rate of $1.1747. In afternoon trade in Tokyo the dollar slipped to $1.1692 after closing at $1.158 on Friday in New York. Against the yen the dollar hit its weakest level since February 2001.

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