Bush war stance sinks dollar

The euro broke the psychological $1.10 barrier last week to peak at $1.106 against the greenback. The currency had traded as low as $1.075 in the early part of the week. Analysts said the euro could continue its rise, and some went as far as saying that a new all-time high above the currency’s 1999 floating price of $1.17 is not out of the question.

"Quite clearly, Bush’s aggressive stance has undermined the dollar," said Jane Foley, currency strategist at Barclays Capital in London.

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