Fed speculation prompts new dollar-euro low

The dollar fell to a record $1.432 against the euro on Thursday as poor macroeconomic data and results from one of the US's biggest banks prompted futures traders to speculate that the Federal Reserve will cut rates.

Data from the US Department of Labour revealed the amount of unemployment insurance claimants had risen by 28,000 to 337, 000 for the week ending 13 October. The Bank of America also announced a 32% fall in profits for the third quarter as a result of the subprime fallout. The la