Dollar slumps to record euro low
Demand for the US currency waned as inflation in the dozen euro countries in November rose above the European Central Bank's limit for the seventh month this year, adding to data in recent weeks suggesting that interest rates in Europe will remain higher than those in the US.
"When you're scouring the world for yield, there is a pickup everywhere outside the US," said Laura Ostrander, the Boston-based manager of the $1.3billion Columbia Strategic Income Fund, which buys foreign bonds partly to benefit as the dollar drops.
