IHT: Dollar tumbles to new low against the euro after Fed's half-point rate cut

For the complete report in the International Herald Tribune click on this link

Dollar tumbles to new low against the euro after Fed's half-point rate cut

The dollar fell against almost all major currencies and hit a record low against the euro Tuesday after the Federal Reserve made an aggressive half-point cut in a key interest rate. The euro rose as high $1.3979 after the long-awaited decision before settling back to $1.3971 in late New York trading, up from 1.3867 Monday. The dollar fell against the pound, too. The British currency bought $2.0131 in New York trading, up from $1.9939 Monday.