Crisis mounts as dollar drops

LACK of solid US data pushed the dollar to record lows yesterday as the euro hit a high of $1.2898.

Subsequent comments by president of the European Central Bank Jean-Claude Trichet sent the euro back to just under $1.28 but, by late afternoon, the euro had gone back up to 1.2801

However, the general market view is that, without strong indications that the US is on its way to solid recovery, the euro should breach $1.30 in the coming days.