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FX round-up: Dollar hits lows again

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Date: Friday 14 Mar 2008

LONDON (ShareCast) - The dollar fell to record lows against the euro and dropped to a 12-year low against the yen on concerns about the economy.

It dropped below 100 yen for the first time since 1995 before recovering some ground.

The currency has been weighed by turmoil in the financial markets, which were hit again after Carlyle Capital - a fund run by private-equity firm Carlyle Group – said it was on the point of complete collapse after it defaulted on about $16.6bn in loans.

Analysts are speculating that the dollar could slip further ahead of the Federal Reserve's interest rate meeting next week, with expectations of further cuts.

Sterling moved ahead against the dollar but remained near record lows against the euro.

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