Dollar teases near all-time low vs. euro

Traders think the Fed could cut interest rates by as much as 75 basis points, says analyst, weakening the currency.

The dollar opened the week trading near all-time lows set last week as investors awaited new data on U.S. manufacturing and construction.

The euro purchased as much as $1.5237 in early European trading Monday, just below the $1.5238 intraday high it hit on Friday. It fell back slightly to $1.5192, just down from the $1.5194 it bought in New York late Friday.

The British pound fell slightly to $1.9834 from $1.9883 in New York, while the dollar slipped to purchase 102.91 Japanese yen from 103.96 yen on Friday.

Speculation was growing among traders that the U.S. Federal Reserve could cut rates by as
much as 75 basis points at this month's meeting, said James Hughes, an analyst at CMC Markets.

Read Complete Story