Dollar falls to record vs. euro

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Wednesday, Nov. 17, 2004 | 10:53 a.m.

The dollar fell to a record against the euro for the fourth time in two weeks and dropped versus the yen as U.S. Treasury Secretary John Snow signaled he won't back any agreement to stem the slide.

"The history of efforts to impose non-market valuations on currencies is at best unrewarding and checkered," Snow said.

Against the euro, the dollar fell to $1.3022 this morning in New York, from $1.2956 late Tuesday, according to electronic foreign-exchange dealing system EBS. It dropped as low as $1.3048, the weakest since the euro's 1999 debut. The U.S. currency also fell to 104.22 yen, from 105.35, trading at its weakest since April 5.