Updated on
Summary The dollar slumped to an all-time low point of 0.8809 Swiss francs.
The euro soared above $1.46 on Thursday for the first time for 16 months and the Swiss franc reached a record high level against the dollar amid worries over a yawning US budget deficit.The European single currency hit $1.4649 in late morning trading. It stood at $1.4647 later, compared with $1.4521 late in New York on Wednesday. The dollar slumped to an all-time low point of 0.8809 Swiss francs. Against the Japanese currency, the dollar fell to 82.12 yen from 82.54 yen on Wednesday.“The US dollar has been pounded across the board in the past 24 hours, falling against all the major currencies,” said Michael Hewson, market analyst at trading group CMC Markets. The dollar stood at 82.12 yen (82.54) and 0.8852 Swiss francs (0.8882). The pound was at $1.6528 (1.6407).
