Dollar hits three-year low against the euro

The dollar fell to a three-year low against the euro Thursday, as investors continued to lose confidence in US assets and expectations grew of an imminent Iraqi war.

The euro reached a high of dollars 1.0539 in early trading, but fell back in the evening as the dollar received some support from rising US stocks before closing at dollars 1.0507.

Aziz McMahon, foreign exchange analyst with ABN Amro in London, told Reuters that the euro will retain space for upside movement as long as uncertainty

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